Loading…
USDA data showed U.S. soybean crush in November at 191 million bushels, a record for the month and up from 174.6 million a year earlier, though slightly below expectations. Crush for the first quarter of the marketing year reached 559 million bushels, 35 million above last year.
Argentine rain was also noted as insufficient for dry topsoil.
Record crush increases soybean meal output and supports meal prices, while strong demand keeps soybean supplies tight for feed buyers.
feedandgrain.comKevin McNewJan 5, 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
