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The February USDA report lowered 2023/24 world vegetable oil production to 222.83 million tonnes and cut sunflower meal output to 22.85 million tonnes from 23.12 million. Soybean meal production was slightly reduced to 258.52 million tonnes.
Lower sunflower meal output tightens a niche protein supply, while the small soybean meal trim has little effect on prices. The changes are minor relative to the total world balance.
ukragroconsult.comFeb 12, 2024After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
After 686 past report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.0% 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.
