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The USDA's first 2022/23 global oilseed forecasts project soybean meal consumption rising 7.9 million tonnes. The article notes that demand is growing despite meal averaging about USD 463 per tonne this crop year, well above the 2019/20 average.
Poorer importing countries are still buying meal at these prices.
Rising global meal demand against a tight price backdrop supports soybean meal prices and crush margins. Feed buyers should expect firm meal values even at high price levels.
czapp.comWalter CroninMay 18, 2022After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
