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India's soymeal exports are expected to rise in coming months as global prices reach two-month highs. Indian traders have contracted about 300,000 metric tons for November and December shipments.
US soymeal futures rose 20% in five weeks due to erratic weather in Brazil.
Strong export demand from India and higher global meal prices support soymeal prices, while redirected Indian supply could ease some tightness in other markets.
business-standard.comReutersNov 9, 2023After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
