
Forecasts for Argentina's current soy crop were cut to 27 million tonnes, down from 34.5 million tonnes in the prior month's estimate. The new figure would be below the 27.5 million tonnes harvested in the 2000/2001 season.
A forecast cut of this size signals a much smaller Argentine soybean supply, supporting soybean meal and oil prices in world markets.
After 747 past bullish report events, SOY 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, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.