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Soybean meal futures in Chicago climbed to their highest since mid-2014 after Argentina suspended export registrations for meal and oil. Several countries, including Hungary and Indonesia, have also curbed farm trade to protect domestic supplies.
A major exporter's export block plus broad trade curbs tighten global protein supply, lifting meal prices and raising feed costs for hog and poultry producers.
ajot.comBloombergMar 14, 2022After 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.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
