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Argentina is expected to lose its position as the world's top soymeal exporter to Brazil this season, according to the Rosario exchange (BCR). Argentine soymeal output is forecast to fall 36% to 27 million tonnes after historic drought, the lowest since the late 1990s.
A sharp drop in Argentine meal exports tightens global protein meal supply, supporting soymeal prices and raising costs for feed buyers who must source from Brazil and other origins.
financialpost.comReutersApr 4, 2023After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
