Loading…
S&P Global projects world soybean production to rebound about 8 percent in 2020 after a nearly 4 percent contraction in 2019, with larger crops expected in North and South America. It notes China's demand growth is driven by rising meat consumption and that the US-China Phase One deal may intensify competition with Brazil and Argentina.
A larger 2020 world crop points to ample soybean and meal supply, which tends to cap prices for feed buyers.
spglobal.comMar 23, 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.
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.
