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DTN analyst Joel Karlin reviews US soybean meal export pace against the March WASDE. Sales and shipments are running below typical pace as a share of the USDA projection, though the 13.75 million short ton export forecast is maintained.
Slower-than-normal export pace suggests USDA's soymeal export projection may be optimistic, which is bearish for US soymeal prices if shipments keep lagging.
dtnpf.comJoel KarlinMar 18, 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.
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.
