
A USDA attaché report projects Argentine soybean plantings rising 650,000 hectares to 17 million in 2022-23, with output up 24% to 51 million tonnes. Corn area is expected to fall as farmers shift away from high-fertilizer-cost cereals.
A larger Argentine soybean crop adds to export supply and weighs on soy and meal prices, while shrinking corn acreage supports corn prices.
After 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.