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Oil World estimates record global oilmeal output of 349.9 million tonnes in 2017-18, up 10.8 million from 2016-17. Soybean production is forecast to rise 9.1 million tonnes to 231 million, while sunflower output is forecast about 1% lower at 19.2 million tonnes.
A record oilmeal supply with rising stocks is bearish for protein meal prices, especially soybean meal, as growing supply outpaces demand.
grainsprices.comGate.BGJun 29, 2017After 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.
Not enough comparable past events yet for a historical read.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
