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Deral's subjective forecast puts Parana's 2022/23 grain production at 46.6 million tons, up 37% from the prior year, with a record soybean crop of 22.45 million tons. The second-crop corn estimate was trimmed to 13.8 million tons, and wheat output is forecast at 4.56 million tons.
A large Parana harvest adds to Brazilian soybean and corn supplies, supporting bearish pressure on soybean meal and corn prices in the export market.
revistacultivar.comJun 30, 2023After 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.
