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USDA crushing data show US soybean meal inventories rose to 462,916 short tons at the end of November, a 12-month high and up 34.1% month on month. SunSirs notes the Dalian soymeal main contract was trading near 2,754 yuan/ton.
Rising US meal stocks signal weak domestic feed demand and pressure spot meal prices. The build is bearish for SBM values in the near term.
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.