Soybeans Drop Deeper into $9 Territory, Dragged Down by Products and Big Stocks Forecasts

After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.

• Sep 1, 2022Conab forecasts increased soybean, corn, and cotton production in Brazil-2.5%
• Aug 13, 2024USDA forecasts record US soybean production and higher stocks, above market estimates - Fastmarkets-5.5%
• Aug 10, 2018Soybeans, Grains Plunge After USDA Raises Production Forecasts-0.3%
• Aug 10, 2017USDA Forecasts Record-High Soybean Production in 2017-4.3%
• Feb 8, 2019Soybean Production Up in 2018, USDA Reports Winter Wheat Seedings and Grain Stocks also reported-1.1%

After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.

• Sep 1, 2022Conab forecasts increased soybean, corn, and cotton production in Brazil-4.6%
• Aug 13, 2024USDA forecasts record US soybean production and higher stocks, above market estimates - Fastmarkets-2.6%
• Aug 10, 2018Soybeans, Grains Plunge After USDA Raises Production Forecasts+0.2%
• Aug 10, 2017USDA Forecasts Record-High Soybean Production in 2017-3.9%
• Feb 8, 2019Soybean Production Up in 2018, USDA Reports Winter Wheat Seedings and Grain Stocks also reported0.0%

After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.

• Mar 8, 2024USDA maintains forecast for soybean oil use in biofuel production, reduces forecast for soybean oil prices | Biomass Magazine+3.6%
• Sep 12, 2022USDA lowers forecast for soybean oil use in biofuel production | Biomass Magazine+0.3%
• Sep 30, 2026BAGE forecasts Argentina’s soybean crop at 53.6 mln tons+3.1%
• Jan 10, 2025January WASDE reduces 2024-’25 forecast for soybean oil use in biofuel production | Biodiesel Magazine+7.6%
• Dec 11, 2023USDA experts raised forecasts for global production of edible oils and meals-0.8%