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US soybean crush picked up sharply over recent months on strong crush margins. USDA projects the domestic crush at 1.97 billion bushels for the marketing year, up 3.6 percent.
Crush growth was driven by rapid gains in soybean meal prices and Argentine production problems.
Stronger crush increases soybean meal output, which can cap meal prices. It also keeps soybean demand firm, supporting beans.
morningagclips.comAubreyMay 8, 2018After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
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.
