# Brazil and its sea of soybeans – Ohio Ag Net | Ohio's Country Journal

> CONAB's November report projects Brazil's soybean crop at 166.14 million tonnes, a record 6.7% above the prior high. Combined with Argentina and Paraguay, South America's output could reach a record 230 million tonnes.

- Date: 2024-11-19 · published 2024-11-19T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/13536-brazil-and-its-sea-of-soybeans-ohio-ag-net-ohio-s-country-journal
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A record South American soybean supply expands export availability and tends to pressure soybean and meal prices lower.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-03-11 | [USDA Reports Review – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/60040-usda-reports-review-ohio-ag-net-ohio-s-country-journal.md) | +2.9% | +1.7% |
| SOY | 2017-12-12 | [Report friendly for corn, neutral to lower for soybeans – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/67415-report-friendly-for-corn-neutral-to-lower-for-soybeans-ohio-ag-net-ohio-s.md) | -2.1% | -3.6% |
| SOY | 2017-05-10 | [Not bearish, neutral to friendly – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/70937-not-bearish-neutral-to-friendly-ohio-ag-net-ohio-s-country-journal.md) | +1.1% | -3.6% |
| SOY | 2021-03-09 | [Mixed March 9 USDA WASDE numbers – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/48071-mixed-march-9-usda-wasde-numbers-ohio-ag-net-ohio-s-country-journal.md) | -1.3% | -1.3% |
| SOY | 2026-04-11 | [Soybeans up and corn down in planting report - High Plains Journal](https://feedsoft.ai/events/19799-soybeans-up-and-corn-down-in-planting-report-high-plains-journal.md) | -0.7% | +1.6% |
| SBM | 2018-01-15 | [Brazil forecasts 110m tons of soybeans and 25m tons of corn in 2017/18 harvest — MercoPress](https://feedsoft.ai/events/66834-brazil-forecasts-110m-tons-of-soybeans-and-25m-tons-of-corn-in-2017-18-harvest.md) | +9.3% | +15.5% |
| SBM | 2019-01-10 | [Soybeans, corn down on Brazil, dollar, trade questions - Brownfield Ag News](https://feedsoft.ai/events/61200-soybeans-corn-down-on-brazil-dollar-trade-questions-brownfield-ag-news.md) | -2.8% | -4.2% |
| SBM | 2017-04-11 | [Brazil: CONAB forecast of soya bean and maize harvest](https://feedsoft.ai/events/71352-brazil-conab-forecast-of-soya-bean-and-maize-harvest.md) | +1.0% | +1.6% |

## Sources

- ocj.com: https://ocj.com/2024/11/brazil-and-its-sea-of-soybeans/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.