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Russia has increased exports of sunflower meal, up 64% to 695,300 tonnes, and soybean meal, up 57.4%, in the season through January 27. China has become an important destination for Russian oilseeds and by-products, with shipments up 3.9%.
Global oilmeal output is forecast to reach a record 363.2 million tonnes in 2019/20.
Rising Russian sunflower meal exports add supply to the global protein meal market, which is forecast at a record, a bearish influence on meal prices in Europe and Asia.
mundus-agri.euFeb 5, 2020Not enough comparable past events yet for a historical read.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
