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Oil World reported soybean meal exports from key exporters fell 0.6 million tonnes year on year to 4.2 million tonnes in February. Reduced world meal demand limited shipments from the US, Argentina and Paraguay.
Weaker export flows and reduced world demand for meal point to softer soymeal prices in the near term.
grainsprices.comGate.BGMar 20, 2017After 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.
