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The National Oilseed Processors Association reported the December US soybean crush at 183.2 million bushels, the second-highest on record but below market estimates of 185.2 million bushels. Soybean oil stocks were also reported below expectations at 1.699 billion pounds.
A crush slightly below expectations and lower-than-expected oil stocks suggest firm meal and oil demand, supporting soybean product prices while the board crush margin stayed above $1 per bushel.
fastmarkets.comRei GeyssensJan 15, 2021After 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
