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The Buenos Aires grains exchange forecasts Argentina's 2022/23 soybean crop at 48 million tonnes, up 15.5%, on a larger planted area. It expects corn to fall to 50 million tonnes and wheat to drop 21.9% to 17.5 million tonnes because of severe drought.
A larger soybean crop adds to global oilseed supply and weighs on soy product prices, while lower corn and wheat output tightens feed grain supply and supports those prices.
financialpost.comReutersSep 28, 2022After 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.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
