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Analysts expected NOPA's December US soybean crush to set a monthly record near 193 million bushels, ahead of the report due Tuesday. Soyoil supplies and margins were discussed, with margins expected to narrow as Argentina's crop rebounds.
A record crush expands meal supply, and narrowing crush margins signal weaker processor demand for soybeans in 2024.
admis.comADMIS Research TeamJan 16, 2024After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 114 past neutral report events, SBO 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.
