Soymeal Futures Reach 4-Month High. Record Export Commitments One Factor Supporting Rally.
The nearby soymeal futures contract set a 4-month high today. Trade chatter mentioned a number of factors: (1) an an increase in US domestic use due to a drop in China’s exports of lysine; and (2) traders reversing a bearish position in soybeans and using soymeal as a short leg against corn and soyoil. What…