Soybean futures fell sharply, with August closing down 14 cents at 967.75 cents per bushel. Soybean meal dropped $1.60 to $264.80 per short ton, while Winnipeg canola fell and Euronext rapeseed lost €3.25.
Traders were unsettled by US-China trade talks and expectations of a larger Brazilian crop.
Expectations of a bigger Brazilian soybean harvest and weak China export demand pressure soybean meal and oilseed prices lower for feed buyers.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 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.