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India's soymeal sales to Iran have surged as Iran uses rupee payments for oil and must spend them on Indian goods, while Iran lacks sufficient domestic protein-rich soymeal production. Higher meal exports are expected to support Indian soymeal prices.
Increased Indian soymeal exports to Iran add demand for soybean meal, supporting meal prices and offsetting domestic oversupply that had depressed farm prices.
reuters.comRajendra JadhavJan 16, 2019After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
