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USDA's first projections for the coming crop year put soybeans near $8.20 per bushel, about 30 cents lower than last year, and soybean meal at about $290 per short ton. Soybean demand is projected to grow faster than production, but large carryover stocks and a slowing economy keep prices under pressure.
Projected lower soybean and meal prices give feed buyers cheaper protein inputs, while soybean oil is forecast slightly higher.
feedstrategy.comEmma PenrodMay 26, 2020After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
