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Chinese oilseed futures spiked on Thursday as a low-water draft issue on a key US waterway raised the risk of disrupted soybean shipments to China next month, with soymeal and rapeseed meal gaining 1-3% and No.2 soybeans rising nearly 6%. Sinograin failed to buy any of its 4,000-ton rapeseed oil tender from private firms, with national rapeseed oil prices near a record 14,500 yuan/ton.
Shipment risk from low Mississippi water and record domestic rapeseed oil prices tighten supply for Chinese feed and oil buyers, supporting soybean and meal prices in the near term.
sitoniaconsulting.comPosted by Darin FriedrichsSep 29, 2022After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
