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Agri-Pulse reports U.S. soybean meal exports reached a record 13.2 million tons in 2022/23 and are expected to hit 13.9 million tons in 2023/24. Growth is tied to soybean oil demand for biofuels, and industry is seeking more crush capacity.
Expected record exports and expanding crush capacity support meal export demand and U.S. meal prices.
agri-pulse.comQuentin SlaterOct 25, 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.
