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India's soymeal exports for 2016/17 are expected to rise to more than 2 million tonnes, up from 261,501 tonnes a year earlier, as a rebound in soybean output cut local prices. Indian soymeal prices fell 25% in four months to $365 per tonne on a free-on-board basis, making exports competitive again.
Larger Indian meal exports to Thailand, Japan, Vietnam and Myanmar could displace South American soymeal in Asia and weigh on Asian meal prices, while firmer domestic soybean prices get some support.
customstoday.mediaAmmad AhmedDec 14, 2016After 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.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
