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US soybean processors have booked purchases well beyond their normal supply window, with some crushers covering 60 days or more versus the usual 30 to 40 days. Record exports and a large domestic crush have pushed soybean prices to their highest since 2014.
Aggressive forward buying signals a tight spring-summer supply battle that could lift soybean prices further and slow crush rates, reducing meal output and tightening soymeal supplies for feed buyers.
financialpost.comReutersJan 27, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% 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.
