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A USDA FAS report projects Argentina's 2024-25 soybean production at 52 million tonnes, a 5.1% increase from 49.5 million tonnes last season. The growth reflects farmers shifting from corn over corn stunt disease, low corn prices and dry-weather concerns.
High temperatures and soil moisture deficits could still hurt yields, and a shortage of high-grade seed is pushing farmers to lower planting density.
A bigger Argentine soybean crop adds to global export supply, which is mildly bearish for soybeans and soymeal, while weather and seed problems could cap that. The acreage shift away from corn could tighten Argentine corn availability.
millingmea.comEditor MillingNov 5, 2024After 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 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), 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.
