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US soybean crush came in higher than expected in March, with NOPA estimating 170.11 million bushels and USDA figures running about six percent above NOPA. Domestic meal and oil use is supporting crush levels through 2019 despite foreign competition in export markets.
Steady crush keeps soybean meal and oil demand firm for feed buyers, supporting meal prices even as export competition from Argentina limits soybean export demand.
proag.comApr 23, 2019After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 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.
