# Ag Market View for Oct 31.23 - ADM Investor Services

> Soybean complex closed mixed on October 31, with meal up $3-5 and oil down 65-100 points. Brazil's soybean estimate was cut 2 million tons to 160 million by one analyst on replanting concerns, and the USDA announced a 240,000-ton soybean sale to Mexico.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: weather · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/33644-ag-market-view-for-oct-31-23-adm-investor-services
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Brazilian flooding and replanting risk tighten the export outlook for soybeans and meal, supporting feed protein prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-07-22 | [Wkly Futures Mkt Summary July 22.24 - ADM Investor Services](https://feedsoft.ai/events/12834-wkly-futures-mkt-summary-july-22-24-adm-investor-services.md) | -1.8% | -14.4% |
| SOY | 2020-10-07 | [Black Sea Futures at All-Time Highs - ADM Investor Services](https://feedsoft.ai/events/12137-black-sea-futures-at-all-time-highs-adm-investor-services.md) | 0.0% | +1.4% |
| SOY | 2022-10-24 | [Soybean crush margins: An overview - Fastmarkets](https://feedsoft.ai/events/14000-soybean-crush-margins-an-overview-fastmarkets.md) | -0.6% | +2.3% |
| SOY | 2017-01-13 | [Week 2: Overview of the world veg-oil market \| Greenea](https://feedsoft.ai/events/73069-week-2-overview-of-the-world-veg-oil-market-greenea.md) | +3.4% | +2.6% |
| SOY | 2019-05-24 | [Grain market week in review - May 24, 2019](https://feedsoft.ai/events/10897-grain-market-week-in-review-may-24-2019.md) | +6.8% | +9.9% |
| SBM | 2024-07-29 | [Wkly Futures Mkt Summary July 29.24 - ADM Investor Services](https://feedsoft.ai/events/6828-wkly-futures-mkt-summary-july-29-24-adm-investor-services.md) | +1.8% | -11.6% |
| SBM | 2024-07-22 | [Wkly Futures Mkt Summary July 22.24 - ADM Investor Services](https://feedsoft.ai/events/12834-wkly-futures-mkt-summary-july-22-24-adm-investor-services.md) | +4.1% | -8.6% |
| SBM | 2017-01-13 | [Week 2: Overview of the world veg-oil market \| Greenea](https://feedsoft.ai/events/73069-week-2-overview-of-the-world-veg-oil-market-greenea.md) | +7.6% | +5.5% |

## Sources

- admis.com: https://www.admis.com/ag-market-view-for-oct-31-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.