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USDA projects Turkey's 2023-24 oilseed production to fall 17% to nearly 3 million tonnes. Sunflowerseed, soybean and cottonseed output are all forecast lower, and a severe drought after a record dry period is a further risk.
Imports of sunflowerseed, sunflower meal and soybeans are expected to rise to partly offset the shortfall.
Lower Turkish sunflower output tightens supply of sunflower meal and oil, supporting prices for those feed ingredients and increasing reliance on imports.
world-grain.comArvin DonleyMar 13, 2023Not enough comparable past events yet for a historical read.
After 1,079 past bullish weather events, SOY 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.
