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NOPA reported a record June crush of 159.2 million bushels, just below trade expectations. Crush margins have surged as China's boycott of US soybeans pushed beans down more than meal or oil.
Strong crush margins encourage processors to run plants hard, boosting meal and oil output and supporting soybean demand at depressed bean prices.
dtnpf.comJoel KarlinJul 23, 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 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.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), 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.
