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Analysts surveyed by Reuters estimate the US soybean crush in November at 5.991 million short tons, or 199.7 million bushels, slightly below October's record of 201.4 million bushels. Soyoil stocks at the end of November were estimated at 1.634 billion pounds, up from October but down sharply year on year.
A strong crush produces more soymeal and soyoil supply, which weighs on meal prices, while tight oil stocks support soybean oil values ahead of the USDA report.
grainews.caJulie Ingwersen, Reuters, GFM Network NewsDec 29, 2023After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
