
The USDA Foreign Agricultural Service projects Argentine soybean output in 2026-27 to dip slightly to 49 million tonnes on planted area of 17.4 million hectares. Yields are expected to decline modestly from last year, though El Niño could raise output, and fertilizer price spikes could affect planted area.
A slightly smaller Argentine crop reduces export availability from a major supplier, a modestly bullish factor for soybean prices, with El Niño and fertilizer costs as upside and downside risks.
After 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.
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.