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USDA's May 12 Oilseeds: World Markets and Trade report projects global oilseed production up 5% in 2021/22 to a record 632 million tons, with soybean output rising 23 million tons to 386 million. Global oilseed consumption is forecast up 3%, led by higher China soybean demand as its hog herd rebuilds.
A larger projected soybean supply is partly offset by strong Chinese feed-driven demand, which tends to keep oilseed meal and soybean prices supported while supplies rebuild.
grainjournal.comMay 13, 2021After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
