Loading…
The USDA cut its 2020-21 US soybean ending stocks forecast to 120 million bushels from 140 million in January, the sixth straight monthly reduction. The cut reflects higher export projections amid Brazilian harvest delays.
Lower ending stocks signal tighter US supply and support soybean and soymeal prices. Feed buyers face higher protein costs as US exports absorb more supply.
spglobal.comAsim AnandFeb 9, 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 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
