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According to Oil World, EU soybean meal consumption in the 2016-17 season is expected to fall to 31.8 million tonnes with imports of 20.3 million tonnes. Sunflower meal consumption is forecast to rise by 0.8 million tonnes to 7.5 million tonnes, taking a 12.5% share of total meal use.
Shifting EU demand from soybean meal toward sunflower meal supports sunflower meal prices and modestly reduces soymeal import demand, a mildly bearish factor for soybean meal.
grainsprices.comGate.BGMay 30, 2017Not enough comparable past events yet for a historical read.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
