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Indian soybean prices have surged in recent weeks, with the Soybean Processors Association blaming speculative trading on exchanges. Soybean planting in India is 8.7% behind last year after delayed monsoon rains in Madhya Pradesh and Rajasthan, and the poultry and livestock sectors are being squeezed by high meal costs.
Lagging Indian sowing tightens domestic supply and supports meal prices, which raises feed costs for poultry and cattle producers in India.
business-standard.comSanjeeb MukherjeeJul 26, 2021After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), 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.
