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Argentine and Brazilian soybean crush volumes are forecast to rise in 2022, with Argentina at 42 million mt and Brazil at 47.7 million mt according to USDA's December WASDE. Local issues including taxes, macroeconomic problems and weather are limiting crushing capacity.
Higher South American crush increases meal and oil supply, which is bearish for soymeal and soyoil prices, though capacity constraints may limit the increase.
ukragroconsult.comJan 4, 2022After 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.
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.
After 563 past neutral report events, Soybeans 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.
