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USDA data showed 187 million bushels of soybeans crushed in September, up 9 million bushels month-over-month and 12 million year-over-year. Corn used for fuel alcohol reached 440.161 million bushels, up 3% from a year earlier, and DDGS production was down 10% month-over-month but up 4% year-over-year.
Strong crush supports soybean meal supply growth and soybean oil demand, while steady ethanol corn grind underpins corn demand and DDGS availability for feed buyers.
brownfieldagnews.comJohn PerkinsNov 1, 2024After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
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.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
