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Coninagro reported that only 34% of Argentina's soybean crop had been sold by mid-May, the lowest pace in six years and below the five-year average of 40%. In tonnes, sales were the highest of the last three years.
Slow farmer selling leaves Argentine soybean supply tighter in the near term, supporting soybean and meal prices against competing origins.
ukragroconsult.comJun 4, 2024After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
