Soybean Meal Is a Bright Spot in US Agriculture Outlook
Bank of America says it expects most agricultural commodities to perform weaker next month, with the exception of soybean meal, which it forecasts will deliver “positive returns” along with other commodities such as Brent crude, gasoline, sugar and copper. As other analysts have noted, soybean meal futures are in contango, meaning the product will be priced higher in the future than in the current spot market. The USDA announced a new term sale of soybean meal exports to the Philippines this morning, selling 135,000 metric tons of soybean meal and cake for delivery in the 2024/25 marketing year. Soybean meal futures fell 0.4%, while benchmark soybeans fell 0.3% in early trading on the CBOT.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
Join strategic discussions and networking with industry leaders!
Read also
TEUS – Sponsor of Exclusive Networking Event within BLACK SEA GRAIN.KYIV
EU allows Ukrainian oilseeds and beet seeds to enter its market
The Netherlands approves a unique potato with a “skin graft”
France reduces agricultural sector’s dependence on imports
Pirated soybean seeds account for 11% of soybean acreage in Brazil
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon