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CBOT soybeans finished near unchanged on August 11 ahead of the USDA monthly crop report due the next day. Soymeal slipped $0.10 to $284.30 per short ton and soyoil fell to $30.62 per pound.
USDA reportedly booked private export sales of 132,000 tonnes of US soybeans to China.
Analysts expect USDA to raise 2020/21 ending stocks to 524 million bushels, a bearish signal that offsets ongoing Chinese export demand.
brecorder.comReutersAug 11, 2020After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% 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.
