
USDA's March 2026 WASDE left Brazil's 2025/26 soybean crop at 180 MMT and cut Argentina's crop by 0.5 MMT to 48 MMT. Soybean meal balance sheet revisions suggested underlying price stability, and global ending stocks were trimmed to 125.31 MMT.
Smaller South American and Ukrainian crops tighten global soybean and meal supplies, which supports soybean meal prices for feed buyers.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), 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.