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USDA's August report cut global 2021/22 oilseed production by 6 million tons to 630 million, mainly from a 4-million-ton drop in Canadian rapeseed and a 2-million-ton cut in US soybean output. Global protein meal production was reduced by 3 million tons and consumption by 2 million tons.
Lower rapeseed and soybean output tightens protein meal and oil supplies, supporting meal prices for feed buyers.
grainjournal.comAug 12, 2021Not enough comparable past events yet for a historical read.
After 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.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
