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According to a USDA GAIN report dated December 4, Argentina imported over 3.5 million tonnes of soybeans in 2017-18, up 135% year on year, with imports possibly reaching 5.5 million tonnes. USDA projects 2018-19 Argentine soybean output at 56 million tonnes, up from 36 million tonnes, as weather improves.
Heavy Argentine imports to rebuild domestic crush and the expected output rebound shift global soybean trade flows, and the export tax change favoring whole beans affects meal and oil supply.
world-grain.comArvin DonleyDec 5, 2018After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
