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USDA raised 2016/17 global soybean production by 5.18 million metric tons and global ending stocks by 4.59 million metric tons. Brazil's soybean output was lifted to 111 million metric tons, and Argentina's to 56 million.
U.S. soybean ending stocks rose 10 million bushels to 445 million, and the season average price was cut 5 cents to $9.55.
Bigger Brazilian and Argentine crops increase export supply and pressure soybean and soymeal prices lower for feed buyers.
dtnpf.comChris Clayton DTN Ag Policy Editor, Emily Unglesbee DTN Staff ReporterApr 11, 2017After 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.
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.
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.
