Loading…
US soybean meal exports had their biggest weekly sales since September 2020, including a sizable shipment to Spain, following a record pace of US crushing in December. Analysts expect soy meal output to rise as refiners shift toward renewable diesel, which could push meal prices lower to compete with Argentina.
Strong export demand supports near-term US meal prices, but expanding crush for oil may add meal supply and pressure prices over time, favoring feed buyers in the medium term.
airfreight.newsBloombergJan 21, 2022After 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 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% 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.
