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US soybean exporters are losing domestic supplies to an expanding crush sector. Higher carry-in stocks and a large crop are projected to push 2024-25 ending stocks to a five-year high of 435 million bushels.
Growing US crush and large projected carryout suggest ample soybean and meal supplies, a bearish influence on soybean prices and a supportive factor for soybean meal supply.
reuters.comKaren BraunFeb 21, 2024After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
