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A Reuters poll of seven analysts expects US soyoil stocks at the end of July to have fallen for a fifth straight month, to 1.713 billion pounds, a 10-month low. That is 3% below end-June and 6% above a year earlier.
Falling soyoil stocks signal tighter domestic supply, which supports soybean oil prices ahead of the NOPA crush report.
reuters.comKarl PlumeAug 12, 2022After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
