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Gulf export terminals Bunge, Zen-Noh and Louis Dreyfus have raised damage discounts on soybeans after a wet harvest in Louisiana, Arkansas and Mississippi, with some discounts more than triple typical levels. Terminals accept only pre-contracted beans or those with damage below 5 to 8 percent, as slack export demand slows the flow of higher-quality beans downriver.
Wider discounts on damaged beans reflect weak export demand and widen the gap between high- and low-quality soybean prices, which signals weak Gulf soybean demand and pressure on cash soybean values.
dtnpf.comKatie DehlingerOct 10, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
