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Soybean futures rose on Tuesday after USDA export inspections showed strong soybean shipments, with about 76 percent of last week's inspected beans headed to China. The article notes China's expanding hog herd and the USDA's January forecast raising global pork output.
Stronger Chinese import demand for feed-driven soybeans and firm export inspections support soybean and soymeal prices, which raises feed costs for buyers.
uaex.uada.eduJan 31, 2023After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
