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The USDA GAIN report forecasts Indian oilseed production rising 2% to 38.4 million tonnes in 2020/21. Oil meal output is projected up 5.2% to 17 million tonnes, with exports of 2.5 million tonnes.
Higher Indian oilseed crush expands oil meal supply, and projected 2.5 million tonne exports could add competition in global meal markets. Growing soybean imports and domestic food use partly offset the supply gain.
ofimagazine.comAug 12, 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.
Not enough comparable past events yet for a historical read.
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.
