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Soybean futures gained about 20 cents on July 24, 2023, with soymeal and soyoil also rising. Crop progress showed 70 percent of soybeans blooming and conditions slipping, while weekly export shipments were below last year.
Slipping crop ratings and steady export demand support soybean and meal prices, which feed buyers must pay for protein supply.
barchart.comAlan BruglerJul 24, 2023After 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.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
Soybean futures, soymeal and soyoil rallied on July 24 as crop conditions slipped, which supports the day's price move through supply concerns.
