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The USDA May WASDE projects a 2021/22 U.S. soybean crop of 4.4 billion bushels with tighter ending stocks than the prior year. Soybean oil use is now reported under a new 'biofuel' line, and crush is raised to 2.2 billion bushels.
Tighter new-crop stocks and rising biofuel use for soybean oil support soybean and soybean oil prices, and a larger crush also increases meal supply.
iasoybeans.comIowa Soybean AssociationMay 13, 2021After 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.
After 250 past neutral report events, SBM moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
