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A USDA Foreign Agricultural Service report shows global oilseed production forecast down over 5.1 million tons to 682.2 million, mainly from lower US soybean output. Global soybean stocks fell, especially in the US, Brazil and Argentina.
Tighter global oilseed supplies support soybean and meal prices, with Brazilian exports only partly offsetting the US shortfall.
feedandgrain.comFeed, Grain StaffNov 11, 2024After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 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.
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.
