Loading…
ICE canola futures closed lower on Thursday after hitting new contract highs earlier in the session, weighed by declines in Chicago soybeans, soymeal and Malaysian palm oil. CONAB cut its Brazil 2021/22 soybean estimate by 15 million tonnes to 125.5 million tonnes, while USDA projected 134 million tonnes.
Brazil's smaller soybean crop tightens global oilseed and meal supplies, supporting meal prices even as profit-taking limited gains. Lower Brazilian output keeps protein costs elevated for feed buyers.
ukragroconsult.comFeb 11, 2022After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
