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USDA's first 2020-21 projections put US soybean ending stocks at 580 million bushels for 2019-20 after a 100 million bushel export cut, and at about 405 million for 2020-21 with production of 4.125 billion bushels and yield of 49.8 bu/acre. April NOPA crush totals of 171.7 million bushels were strong.
Projected falling 2020-21 stocks and steady crush support soybean prices, though exports and weather remain uncertain.
proag.comMay 19, 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
