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S&P Global forecasts combined soybean crush in Argentina and Brazil at 92.10 million mt in 2024, up 15.3% from 2023. The increase reflects Argentina's crop recovery to an expected 50.5 million mt and a higher Brazilian biodiesel mandate.
Higher Latin American crush adds meal and oil supply to world markets, which can weigh on meal prices, while the biodiesel mandate supports soyoil demand.
ukragroconsult.comDec 28, 2023After 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.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
