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USDA projected world and U.S. soybean supplies would be tighter than expected for the next two years, citing reduced South American harvests and rising demand. It cut Argentina's soy output by 2.5 million tonnes and Brazil's by 1 million tonnes, and soybean futures surged about 4.5% to their highest since 2014.
Lower South American exports tighten global soymeal and soybean supply, supporting feed protein prices.
agweek.comMark Weinraub/ReutersMay 9, 2016After 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.
After 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.
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.
