A market analyst says strong soybean meal prices continue to drive soybean prices.
Don Roose with U.S. Commodities tells Brownfield the world’s biggest supplier of soybean meal has tight supplies.
“Last year, Argentina had a drought so they have a deficit. That’s really given opportunity to the U.S. market and soybean meals are just off of their highs Friday.”
Soybean meal export sales were strong again in the last week and Roose says domestic soybean crush demand remains solid.