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USDA's FAS cut its estimate of Argentina's 2021-22 soybean planting to 17 million hectares and production to 49.7 million tonnes. Export taxes of 33% on soybeans and 12% on corn and wheat have pushed farmers toward corn and winter grains.
A smaller Argentine soybean crop tightens meal and oil supply, while more corn planting adds to feed grain supply and weighs on corn prices.
world-grain.comSusan ReidyOct 15, 2021After 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.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
