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The U.S. Soybean Export Council held a virtual conference with buyers from around 100 countries, and USSEC said export sales remain strong. Total 2019-20 soybean sales were 4% above last year, soybean oil sales were up 28%, and meal sales were roughly flat, even as Brazil takes seasonal sales.
Solid export commitments and strong soyoil sales support US soybean prices, although losing seasonal share to Brazil limits upside in the near term.
dtnpf.comChris ClaytonApr 15, 2020After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
