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AgroPages republished the USDA GAIN report showing Argentina's 2019-20 soybean exports cut 36% to 8 million tonnes on weak Chinese demand. The report also projected soybean output at 53 million tonnes and crush at 44 million tonnes.
The lower export outlook from Argentina reflects softer global demand for soybeans, which weighs on world soy prices while supporting domestic crushing for meal and oil.
news.agropages.comOct 10, 2019After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
