
Datagro raised its 2024/25 Brazilian soybean estimate to 172.0 million tons, with a 4% larger planted area and a 7% yield gain. The consultancy expects a first surplus after five years of deficit, with 111 million tons of exports forecast.
A larger Brazilian soybean crop and export forecast adds supply to the global market, which is bearish for soybeans and soybean meal, with the surplus pressuring crush margins for buyers.
After 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 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 114 past neutral report events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.