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ADM's weekly summary notes soybeans under light pressure as bean oil weakened with crude oil, while favorable South American weather and faster Brazilian planting weigh. Soymeal fell to its lowest since Aug.
26 as US export prices stayed above South American origin, and Mississippi low water is lifting barge rates.
Ample South American supply and weak US soymeal export competitiveness pressure soybean and meal prices, while low river levels raise freight costs for US grain movements.
admis.comADMIS Research TeamOct 28, 2024After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
