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NOPA reported US member soybean crush of about 195 million bushels in December, well above analyst expectations and up roughly 10% year on year. Soybeans gained 3 cents and meal rose $9 per short ton, though a firmer dollar and weaker crude limited gains.
A record crush raises meal output and supports soymeal prices, while a stronger dollar makes US export shipments less competitive.
zmp.deJan 17, 2024After 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
