Loading…
July 2022 soymeal futures rose $23 per short ton to close at $438.10 in the week ending June 17, while soybean oil fell nearly 6 cents to $0.7379 per pound. U.S. soybean planting reached 88% by June 12, roughly in line with the five-year average, though North Dakota and South Dakota emergence lagged.
Argentina will raise its biodiesel blend from 5% to 12% for 60 days before settling at 7.5%.
Argentina's temporary biodiesel blend increase supports domestic soyoil demand and reduces export availability of oil, which can tighten meal-oil balance and firm soymeal values.
mckeany-flavell.comNicole ThomasJun 20, 2022After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
Soybean oil already fell nearly 6 cents in the prior week, showing the selling momentum that continued into June 20.
