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U.S. soybean futures fell after NOPA data showed processors crushed far fewer beans than expected in August. Soyoil stocks fell to their lowest level in nearly six years, which supported soyoil futures.
A slow crush reduces soybean meal output and demand for beans, while tight soyoil stocks support oil prices and biodiesel-linked demand.
agcanada.comAGCanadaSep 15, 2023After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
