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USDA's October report raised its 2023/24 forecast for Ukrainian sunflower oil production to 6.02 million tonnes and exports to 5.6 million tonnes. Sunflower meal production was raised to 5.78 million tonnes and exports to 4.65 million tonnes.
Sunseed output is still seen at 14 million tonnes.
Higher Ukrainian meal and oil supply forecasts add to global supply, which is mildly bearish for sunflower meal and oil prices.
ukragroconsult.comOct 16, 2023Not enough comparable past events yet for a historical read.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
