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The Buenos Aires Grains Exchange cut its 2024/25 Argentine soybean crop forecast by one million tons to 48.6 million tons. Drought reduced yields in the northeast, and the exchange cut its corn yield estimate by 40%, though it held its corn output forecast at 49 million tons after a planted-area adjustment.
A smaller Argentine soybean crop reduces export supply of soybeans, meal and oil, supporting world prices. Lower corn yields also tighten exportable corn supply from the third-largest exporter.
agriculture.comReutersMar 21, 2025After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
