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Brazilian and Chinese authorities are finalizing a health protocol that would allow Brazilian processors to export soymeal to China. Abiove expects Brazil's crushing to grow by 9 million tonnes by 2023 as biodiesel blending rises to 15%.
Access to China would give Brazil a new outlet for growing soymeal output, adding export supply that could weigh on meal prices, though no implementation date is set.
thepoultrysite.comRyan JohnsonDec 17, 2019After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 81 past neutral trade events, SBO moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% over 20.
After 26 past neutral trade events, USDBRL moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.4%), and +1.3% 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.
