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CONAB reported a record Brazilian soybean crop, up about 9% from last year, helped by expanded planted area. Corn output fell as first-crop rain delays and second-crop drought and frost cut yields, with Paraná losses described as irreversible.
A larger soy crop cushions soybean meal supply, while a sharp Brazilian corn shortfall tightens global feed corn availability and supports corn and DDGS prices.
farmprogress.comJulio BravoJul 16, 2021After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
