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USDA's final 2021 soybean crop was 4.435 billion bushels, up 10 million from November and a record. The national yield rose to 51.4 bu/acre, second only to the 2016 record.
A record soybean crop adds to supplies and ending stocks, which is bearish for soybean and meal prices. Dakota and Minnesota losses limited the upside to the crop.
dtnpf.comJoel KarlinJan 14, 2022After 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.
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.
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.
