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US soybean crush has continued to strengthen on strong crush margins driven by higher soybean meal prices. USDA projects the 2017/18 domestic crush at 1.97 billion bushels.
Argentine production problems and poor growing conditions there have added to demand for US beans.
Higher crush boosts meal output and can limit meal price gains. Continued crush demand supports soybean prices.
will.illinois.eduTodd E. GleasonMay 7, 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.
