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Analysts polled by Reuters expected US soybean crushing in May 2020 to reach 173.071 million bushels, a record for the month and up 11.8% year on year. Estimates ranged from 164.1 to 177.5 million bushels ahead of the NOPA report due June 15, and soyoil stocks were seen slipping from a near seven-year high.
Strong crush supports soymeal output and export demand, which is bullish for meal supply. Falling soyoil stocks could tighten vegetable oil availability and firm soybean oil prices.
brecorder.comReutersJun 12, 2020After 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 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.
After 296 past bullish report events, Soybean Oil 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.
