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The USDA's February report raised its 2020/21 world sunflower seed estimate slightly to 50.139 million tons. It cut forecasts for world sunflower oil to 19.472 million tons and sunflower meal to 20.93 million tons, both below the prior season.
Lower projected sunflower meal and oil output reduces supply of these oilseed products, which is mildly supportive for meal prices and competing vegetable oil prices.
tridge.comVictor LangatFeb 10, 2021Not enough comparable past events yet for a historical read.
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.
