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USSEC's inaugural July WASDE webcast highlighted increased Brazilian soybean exports and rising global soy demand. Panelists said export demand is the key question, with Chinese purchases of US old-crop beans recently picking up after record Brazilian shipments to China this spring.
Exports account for about 60% of US soybean demand.
Export pace over the final reporting weeks of the marketing year will drive pricing for US soybeans. Brazil's strong competition in China limits the upside for US soybean prices.
farmprogress.comJacqueline HollandJul 13, 2020After 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.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
