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Argentina's soybean crushing fell 29% in 2023 to 27 million tonnes, its lowest since 2004, according to the Rosario grains exchange (BCR). Argentine soybean output dropped 56% after a severe drought, while imports under a temporary import programme made up over 36% of crushing.
Lower domestic crush and record idle capacity reduce Argentine meal and oil exports, tightening supply for feed buyers and supporting soymeal prices, though imports partly offset the shortfall.
ofimagazine.comFeb 5, 2024After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
