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Soybeans rose on commercial and technical buying after China purchased about 129,000 tonnes of U.S. beans for 2021/22 and 2022/23 delivery. Brazil's crop estimate was cut to 128.5 million tonnes by AgRural, and dry weather is expected in Argentina and southern Brazil.
Chinese purchases and a smaller Brazilian crop support U.S. export demand and soybean meal prices. Soybean oil weakness partly offset gains.
brownfieldagnews.comJan 31, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
