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Datagro Grãos cut its estimate for Brazil's 2023/24 soybean crop to 147.571 million tons, citing lower yields of 3,213 kg/ha. Combined with the two corn harvests, Brazil's potential production is 114.3 million tons, and planted area rose 2.8% to 45.935 million hectares.
A smaller Brazilian soybean crop tightens export supply of soybeans and soymeal, supporting soybean meal prices against US and Argentine origins.
revistacultivar.comMay 24, 2024After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
