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Soybean meal prices rose in Brazil over the past week, according to Cepea, on firm external demand and concerns about meal supply in the 2022/23 crop year. Hot, dry weather has made it difficult to plant soybeans in Argentina, the world's largest soymeal exporter.
Brazil exported a record 19.25 million tonnes of soymeal from January to November, up 24.4%.
Argentine planting problems threaten global meal supply, so buyers may need to source from Brazil and the US at higher prices. Feed buyers should expect firmer soymeal values while the Argentine crop is in doubt.
datamarnews.comGabriel MalheirosDec 14, 2022After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans 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.
