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Soybean on NCDEX rose 4% on supply scarcity and lower production, with India's soybean output forecast down 17.7% to about 8.99 million tonnes. India decided not to join the RCEP trade pact, and harvest progress lagged the average.
Government set a higher minimum support price for soybeans.
A sharp Indian soybean crop decline tightens domestic supply and supports Indian soymeal and oil prices, though India's import needs and the RCEP decision have limited direct effect on global prices.
in.investing.comNov 5, 2019After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
