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A USDA GAIN report lowers Argentina's 2020-21 soybean production by 1 million tonnes to 50 million, with exports cut to 7 million tonnes and crush reduced to 41 million tonnes. The article restates the same USDA figures.
Lower Argentine output and exports tighten soybean and meal supply, a modestly supportive factor for prices already reflecting the same report.
ofimagazine.comQuartz Business MediaJan 14, 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.
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.
