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USDA's August 2018 oilseeds outlook cut the EU 2018/19 oilseed production forecast sharply on severe weather, with lower rapeseed yields. EU soybean and soymeal import forecasts were raised to 15.8 and 18.5 million tons.
Ukrainian rapeseed and sunflowerseed meal import forecasts were also raised.
Higher EU imports of soymeal, rapeseed meal and sunflower meal support global protein meal demand and prices, with US soy gaining EU export share while China diverts to Brazil.
agroperspectiva.comAug 16, 2018After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
