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Soybean crush for February was estimated at 165 million bushels, up 11.8 million from a year earlier. Soybean oil stocks were estimated at 2.202 billion pounds, down 200 million from last year but up nearly 200 million from the prior month.
The estimates came from Allendale.
Strong crush increases soybean meal output, which weighs on meal prices, while tighter oil stocks support soybean oil values. The data are a routine monthly indicator with a limited price impact.
agupdate.comApr 1, 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 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.
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.
