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IBGE's third 2025 estimate puts Brazil's cereal, legume and oilseed harvest at 322.6 million tonnes, up 2.5% from the previous estimate and 10.2% above 2024. Soybean output is projected at 15.4% higher, and second-crop corn is up 4.1%.
A larger Brazilian harvest adds to export supply of soybeans and corn, which is bearish for global prices.
agenciadenoticias.ibge.gov.brJan 14, 2025After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
