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The International Grains Council reports global soybean supplies down 5% year on year, driven by a 20% smaller US crop of 97 million tonnes. Brazil's record crop is projected at 122 million tonnes, and palm oil weakness is pulling down rapeseed and vegetable oil prices.
Tighter global ending stocks support soy complex prices, but a large Brazilian harvest and weak palm oil cap meal and oil prices.
zmp.deJan 26, 2020After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
