Monday is a holiday in the US – Presidents’ Day – businesses, banks and the CBOT will be closed.
Soybeans and soymeal certainly led the market higher this week with soybeans up by about USD 14 m/t while soymeal was bumping on USD 30 m/t higher. Possible soybean harvest delays in Brazil along with continued dry weather in Argentina pushed soybean prices higher. Also, private estimates are saying that the Brazilian government soybean crop estimates could be 5 million m/t too high. Certainly some good reasons to push up soybean/soymeal prices.........................please click PDF to see more details