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Indian domestic soybean prices have risen above ₹7,500 a quintal, well above the minimum support price of ₹3,880, squeezing processors. Trade estimates put the 2020-21 domestic soybean crop at around 10 million tonnes, below the government's 13.7 million tonne estimate.
A smaller Indian crop and record global vegetable oil prices tighten supply for soybean oil and meal importers. Processors' margin squeeze may reduce crush and support higher prices for soy products.
thehindubusinessline.comThe HinduBusinessLineApr 22, 2021After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 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.
After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), 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.
