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CoBank reports that US soybean processing has expanded rapidly, with three new plants adding about 120 million bushels of capacity, roughly 6 percent. The short-term outlook for processors remains bright, but the mid to long term faces pressure from new capacity.
Expanding crush capacity increases meal and oil supply, which could pressure soymeal prices if overseas demand does not keep pace.
feedandgrain.comDec 1, 2020After 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 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
