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USDA's August WASDE estimated the 2021-22 average US soybean meal price at $385 per short ton, down $10 from July. The report also cut global soy meal ending stocks by 4.7% from July, with declines in Argentina and Brazil, and lowered China's meal production estimate by 2%.
A lower US meal price forecast with tighter global meal stocks is a mixed signal for feed buyers: cheaper domestic meal offsets some tightness abroad, but reduced Argentine and Brazilian supplies support export-driven demand.
spglobal.comPratibha AlaghAug 12, 2021After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), 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.
