
Grain Journal republished the ASA analysis of the March 2026 WASDE, which said soy product balance sheet revisions drove pricing. It reported that Brazil's 2025/26 crop was unchanged at 180 MMT and Argentina's was cut to 48 MMT.
Lower Argentine output and smaller global stocks support soybean meal prices, though the report's effect was muted by oil-market volatility.
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.
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.
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.