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Indian soymeal export projections for October 2023 to September 2024 were cut by about 20%, from 1.8 to 1.4 million tonnes, because Indian meal is priced $80-100/t above other origins on FOB basis. Domestic feed and food offtake was weaker than last year and crushing slowed.
Reduced Indian export availability removes some supply from world meal markets, though weak domestic demand and lower global prices offset this effect on prices.
thehindubusinessline.comVishwanath KulkarniFeb 12, 2024After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
