
Oil World forecasts global soybean meal production will rise 4.1% in 2017-2018 to 231.5 million tonnes. Global soybean exports are expected to grow by 2 million tonnes to 67.5 million tonnes, and drought in other regions is seen lifting demand for soybeans and processed products.
A record meal supply is bearish for protein feed prices, although drought-driven demand for oilseeds could partly offset that pressure.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.