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Fastmarkets reports Brazil's soybean harvest reached 78% by April 1, in line with the five-year average. Mato Grosso's yield estimate was cut 2.2% year on year, and safrinha corn sowing has finished.
Lower Mato Grosso and Paraná soybean yields tighten soybean and meal supply, while completed corn sowing shifts price attention to the weather during the growing season.
fastmarkets.comEduardo TintiApr 6, 2021After 747 past bullish report events, SOY 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, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
