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USDA's April Oilseeds report forecasts 2022/23 global soybean trade stronger than last year, driven by record Brazilian production and strong demand. Global soybean meal and oil exports are forecast lower due to Argentina's drought, with soybean meal imports at their lowest in six years.
Reduced Argentine meal and oil exports tighten global protein supply, supporting meal prices and encouraging buyers to substitute rapeseed and sunflower meal.
ofimagazine.comQuartz Business MediaApr 26, 2023After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
