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A South African market review says U.S. soybean sales to China resumed, supporting oilseeds, while a Canada-China dispute threatens rapeseed flows. It also notes Chinese meal demand is falling as African swine fever hits the hog herd, and that soymeal and soyoil prices have fallen toward 10-year lows.
Weaker Chinese meal demand from African swine fever pressures soybean meal and oil prices, while the resumed US sales offer only partial support. The article's data largely reflects earlier months, so the net price signal is mixed to bearish.
farmingportal.co.zaFarming PortalMay 31, 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.
After 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 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
