
A Rosario Stock Exchange report says biofuel demand in the US and Brazil is boosting soybean crushing and global meal supply. Adjusted for US inflation, Chicago soymeal prices are at levels last seen 26 years ago.
Argentina, the largest meal exporter, faces growing competition.
Expanding meal supply from biofuel-driven crushing keeps soymeal prices depressed even as livestock demand for meal per unit of protein rises, which lowers feed costs for buyers.
After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% 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.