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Most-active CBOT soymeal futures jumped 8.6% in the week ended October 24 on rising international demand for US soybean meal. Argentina, a top meal exporter, had its worst soybean crop in many decades, sharply cutting crush.
Argentina's poor crop has tightened global meal supply and drawn strong US export demand, pushing up soymeal costs for feed formulators.
reuters.comOct 30, 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
