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Chinese feed ingredient prices on November 11, 2020 rose: soybean meal gained 50-80 RMB/MT to 3330-3360 after the USDA November report and a sharp rally in US soybean futures. Corn and cottonseed meal eased while DDGS and rapeseed meal edged up.
The USDA cut to US soybean yield and stocks lifted Dalian soymeal, and rising import costs point to higher domestic meal prices if South American supply disappoints.
stcdie.comNov 10, 2020After 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 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
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.
