Soybeans were sharply higher on speculative and technical buying, along with the higher dollar, but still closing lower on the week. Just 8% of Argentina’s soybean crop is rated good to excellent with more hot, dry weather in the forecast. That also supported soybean meal and oil as Argentina is usually the world’s largest exporter of soybean products. This crop damage will likely improve demand for U.S. soybean products, at least to some extent. Unknown destinations bought 132,000 tons of 2022/23 U.S.
Soybeans surge on Argentina weather woes
Subscribe to our Daily Email Newsletter!
Get the top stories from across Muscatine, Iowa in your inbox each morning.
Thank you!
You have successfully joined our subscriber list.