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The USDA National Weekly Grain Co-Products Report showed Central Illinois soybean meal at a one-month high of $361.58 per short ton and soybeans at $10.46 per bushel in the week to September 27. Soybean oil rose to 43.90 cents per lb, lifting the crush margin to $3.13 per bushel.
Higher cash soybean and meal prices with a wider crush margin signal firmer processor demand for soybeans, supporting meal values for feed buyers. Oil-led margin strength could keep crushers running, tightening meal availability.
thejacobsen.comAlexandra WattsSep 30, 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 414 past bullish report events, Soybean Meal 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, Soybean Oil 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.
