Chicago soybean futures closed at $15.14-3/4 on Thursday, the highest levels for January, with US stocks near nine-year lows relative to demand. Global stocks-to-use is roughly flat at 18.9%, as a strong Brazilian crop and weak Chinese demand offset Argentine weather problems.
Tight US supplies and Argentine weather support Chicago prices, but a looser global balance makes that support vulnerable. Feed buyers should watch for Brazilian harvest results that could weaken prices.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.