US soybean meal sales for the current season totaled 5.5 million tonnes in late December, versus 6.8 million a year earlier. USDA's December balance sheet cut 2019/20 meal exports by 350 thousand tons.
Lagging export sales and a USDA export cut point to weaker US meal demand, which is bearish for soymeal prices.
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.