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The US soybean crush hit an all-time high for January volume, according to NOPA data released February 16. The January crush was 184.654 million bushels, up 4% year on year and above analyst estimates.
Soybean oil stocks rose to an eight-month high.
Strong crush demand from meat processors and biodiesel, together with tight South American supplies, is pulling US ending stocks toward a seven-year low. That supports soybean, meal and oil prices.
ukragroconsult.comFeb 18, 2021After 747 past bullish report events, Soybeans 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, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
