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USDA projects Argentine corn plantings falling about 50,000 hectares to 6.75 million, the first decline in nine years, as farmers switch to soybeans. Soybean plantings are forecast to rise 650,000 hectares to 17 million, the highest in six years.
Smaller corn area in Argentina tightens the export outlook for corn, while the switch to soybeans adds to oilseed supply.
grainpricenews.comMike VerdinApr 26, 2022After 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 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.
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.
