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The NOPA June crush report was released on July 15, 2019, and came in lower than trade expectations. Analysts from Zaner Ag Hedge said the figures gave the market no support, and corn and soybean markets had just seen a profit-taking Monday.
A weaker-than-expected crush signals softer soybean meal demand, which tends to pressure meal prices and weigh on soybean futures.
iowaagribusinessradionetwork.comDustin HoffmannJul 15, 2019After 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 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.
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.
