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ZMP reports that German soybean meal prices rose sharply from 2020 to 2022 and then eased at the end of 2022. It expects a record Brazilian soybean crop of 153 million tonnes and Argentine output only slightly above last year's weak result.
A record Brazilian crop and larger exports would add supply to the global market and could ease meal prices, although weak Argentine output limits that effect.
zmp.deJan 30, 2023After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
