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Brazilian soybean crushers are running short of beans as competition from Chinese buyers tightens remaining 2017-18 supplies. Some plants have halted or slowed processing due to negative margins, and soybean inventories are expected to fall to 1.5 million tons, the lowest since 1999.
Brazil shipped 69.2 million tons of soybeans through September, up 13 percent year over year.
Tight Brazilian soybean and soymeal/oil inventories and heavy Chinese demand support prices for soybeans, soymeal and soyoil until new crop arrives in early 2019.
agrimarketing.comOct 12, 2018After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 224 past bullish trade events, SBO moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 26 past neutral trade events, USDBRL moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.4%), and +1.3% 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.
