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Soybean futures gained as much as 6.5 cents after USDA cut forecast domestic and world stocks, with heavy domestic crush and lower South American production also cited. The market closed near $10.79 a bushel after giving back about a nickel, and the USDA sees next-season stocks at a three-year low.
Stocks below expectations plus strong crush demand point to tighter soybean and meal supplies, supporting feed protein prices.
schadcommodity.comBrian SchadMay 11, 2016After 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.
