SunSirs: CBOT Soybean Meal Falls, Soybean Oil and Soybean Meal Arbitrage is Active
October 08 2024 16:15:04 SunSirs (Selena)
On October 8th, soybean meal futures on the Chicago Board of Trade (CBOT) closed down, with the benchmark period closing down about 2% due to active arbitrage in buying soybean oil and selling soybean meal.
As of the close, soybean meal futures fell by $2.9 to $6.5, with the October futures closing down about $5.7 to close at $324.8 per short ton; The December period closed down by approximately $6.5, closing at $324.0 per short ton; The January period closed down by approximately $5.3, closing at $323.3 per short ton.
The most active trading range for the 12-month contract is between $323.0 and $329.5.
South Korea has purchased 60,000 tons of soybean meal through bidding, which may come from South America, the United States, or China. This batch of soybean meal will arrive at the end of March.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
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