Accelerated US soybean harvest and rising new-crop supplies have weakened the soybean meal market. Spot prices are under pressure with little support, and futures reflect expectations of ample new-crop supply.
Heavier harvest supply and ample new-crop expectations push soybean meal prices lower, which lowers feed protein costs for buyers.
After 118 past bearish weather events, SBM moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.