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Cargill agreed to acquire soybean processor and refiner Owensboro Grain Company, expanding its oilseed crush capacity. The deal responds to rising demand for vegetable oils for renewable diesel and increasing soybean meal exports.
Added crush capacity increases soybean meal supply over time and reflects strong soybean oil demand from biofuels, a mixed signal for meal prices and a supportive one for oil.
reuters.comKarl PlumeNov 28, 2022After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 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.
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.
