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The USDA Foreign Agricultural Service highlighted aquaculture as a growing outlet for soybean meal, reprinted by the U.S. Soybean Export Council. It notes fishmeal prices have recently tracked soybean meal prices more closely, falling to around $1,300/ton in 2017 as soy-based alternatives such as pelletized soy concentrate gain use.
Growing use of soybean meal in aquafeeds adds demand for soymeal and creates a substitution link that ties fishmeal prices to soymeal prices.
ussec.orgFeb 12, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
