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European feed buyers are concerned about Argentine soybean meal supply after poor crop conditions, with only 37.3% of the crop rated good to excellent versus 52.6% a year earlier. Last Argentine meal shipments to the EU are scheduled for January 20 and 31, with a supply gap expected until March.
CIF Rotterdam Argentine meal rose $8 per ton to $384.
A supply gap in Argentine meal into Europe supports meal prices and encourages soybean imports and higher soybean procurement costs. Buyers should expect firm meal pricing until supplies resume in March.
graintrade.com.uaJan 22, 2018After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
