US soybean futures fell sharply on Thursday, with the November contract down 28 cents to 1091.75 cents per bushel and soybean meal dropping about $12 to $312.70 per short ton. Canola also declined in Winnipeg and on Euronext, and Brazil's soybean exports are expected to rise to 3.77 million tons in November.
Uncertainty over US-China trade relations and expanding Brazilian export supply weigh on soybean and meal prices, and the missing USDA export report removes a key signal of demand.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.