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USDA cut its 2020/21 Ukraine sunflower seed production forecast to 17 million tonnes, down 0.5 million from August. Sunflower oil and meal output estimates were also lowered, to 7.22 and 6.94 million tonnes respectively.
World sunflower production was pegged at 54.02 million tonnes versus 55.8 million previously.
A smaller Ukrainian and global sunflower crop tightens sunflower meal supply, supporting meal prices for feed buyers who substitute it for soybean meal.
latifundist.comSep 15, 2020Not enough comparable past events yet for a historical read.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
