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Ag Processing Inc. held the grand opening on July 17, 2019 of a $300 million soybean crushing plant in Aberdeen, South Dakota. The plant is expected to process 50 to 60 million bushels a year and begin commercial operations by the end of July.
New crush capacity in the northwestern Corn Belt adds local soybean demand and supports basis there, and it produces additional soybean meal and oil for the market.
agweek.comMichelle Rook, AgweekTV AnchorJul 29, 2019After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% over 20.
After 13 past bearish logistics events, Soybean Oil moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +3.0%), and +0.3% 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.
