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Darin Newsom of DTN says U.S. soybean demand continues to draw down supplies even though farmers are on track for a record crop. In its monthly supply and demand report, USDA reduced soybean ending stocks for 2017-18.
Lower projected ending stocks tighten the U.S. soybean balance sheet, which is supportive for soybean and soymeal prices.
iowafarmbureau.comOct 16, 2017After 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.
