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Soybean futures traded higher after the May WASDE, with Stewart-Peterson adviser Brian Doherty saying USDA gave a clearer view of soybean demand. The ending stocks figure was well below expectations but within the range of analyst estimates.
A lower-than-expected U.S. soybean carryout supports soybean and meal prices, though the gain was limited because the number sat within the expected range.
rrfn.comCarah HartMay 10, 2018After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
