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South Africa's Grain SA oilseed commentary says world soybean production for 2019/20 may fall about 5.3 million tons, mainly from lower US and Canadian output. US soybean plantings were 77% complete versus a 93% average, and record world soybean stocks of 110 million tons are expected at the end of 2018/19.
Local South African soybean prices firmed during the week.
Large record stocks offset the expected Northern Hemisphere output drop, so the net price effect on soybeans and meal is limited.
farmingportal.co.zaJun 18, 2019After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
