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USDA FAS reports U.S. soybean meal exports set a record 13.2 million tons in 2022/23, valued near $7 billion. Shipments expanded to the EU and Vietnam as Argentine drought reduced its exportable supplies, and USDA forecasts a new record of 13.9 million tons for 2023/24.
A record export pace drawn by biofuel-driven crush supports U.S. meal prices and reinforces demand for soybeans.
fas.usda.govUSDA Foreign Agricultural Service (.gov)Nov 1, 2023After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
