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Global oilseed production for 2020/21 is forecast at 596 million tonnes, up 750,000 tonnes from February, on higher Brazil soybean output and larger Australian and EU rapeseed crops. Global oilseed crush and protein meal production were both raised, and ending stocks rose modestly.
The US season-average soybean price was left unchanged at $11.15 per bushel.
Higher supplies and ending stocks, especially for protein meal, add to bearish pressure on soybeans and soymeal prices.
gofbonline.comgofb-admMar 30, 2021After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
