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China's weekly soybean crush rose 166,000 tonnes to just over 2.2 million tonnes, the largest of 2021 and 5% above last year. Meal stocks at Chinese ports held steady at 1.1 million tonnes, and France's farm ministry estimated 2021 soft wheat output at 37.1 million tonnes, up 27%.
Stronger Chinese crush supports soybean meal demand, but high port stocks and weaker old-crop purchases limit upside, while a larger French crop adds to wheat supply.
feedandgrain.comKevin McNewJul 15, 2021After 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.
After 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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
