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Argentine soybean crushers are expected to raise soymeal exports as the domestic soybean supply is ample and prices have firmed. Crushers imported 41% more soybeans in June and booked 3.53 million tons of export shipments since the start of July.
Larger Argentine meal export volumes add supply to the world soymeal market, which pressures soymeal prices.
argusmedia.comRyan KooryMar 25, 2024argusmedia.comRyan KooryMar 25, 2024After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
