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CBOT soybeans rose to two-month highs on large U.S. export sales, including 396,000 tonnes to China and 129,000 tonnes to unknown destinations. Soymeal gained about 2 percent as traders unwound soymeal-soyoil spreads, while soyoil fell alongside weaker palm oil.
Oats also jumped 7 percent.
Strong Chinese purchases tighten U.S. old-crop supply and support soybean and meal prices. Higher meal prices improve crush margins, which can boost demand for soybeans.
farmtario.comMichael HirtzerOct 27, 2016
grainews.caMichael Hirtzer, GFM Network NewsOct 27, 2016
manitobacooperator.caGFM Network News, Michael HirtzerOct 27, 2016After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
