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North American oilseed crushers say more than 620,000 bu/d of new soybean and canola crush capacity is on track to start within the next year. Projects include a 96,000 bu/d facility in South Dakota, a 137,000 bu/d plant in Nebraska and a 121,000 bu/d canola plant in Saskatchewan.
Policymakers are signalling they want more domestic feedstock use in biofuels.
Expanded crush capacity increases soybean demand and soybean oil supply, while the extra meal output is bearish for soybean meal prices.
argusmedia.comCole MartinMar 25, 2024After 356 past bullish policy events, SOY moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 223 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% 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.
