# Todd's Take

> DTN analyst Todd Hultman describes a sharp March sell-off in soybeans, with Dalian May contracts hitting a new contract low after 11 sessions of drops. Soybean meal and oil also fell suddenly, and the USDA raised its 2022/23 export estimate to 2.015 billion bushels in the March WASDE.

- Date: 2023-03-24 · published 2023-03-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36889-todd-s-take
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Broad bearish momentum across soy complex products points to cheaper meal supplies for feed buyers, though the export estimate indicates underlying US demand remains firm.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/03/24/bearish-dominoes-fall-soybean-prices?referrer=twitter

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.