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The Illinois Soybean Association is promoting Illinois soybeans and meal in emerging markets such as Myanmar, Bangladesh and Southeast Asia. The group cites US crush volume up 3.54 percent, which could push the marketing-year crush above 58.9 million metric tons versus 56.9 last year.
Stronger crush demand supports soybean meal supply and basis, but this is a promotional item with no new price-moving event.
ilsoy.orgILSoybeanJul 24, 2020After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
