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Brazilian farmers planted a record 95 million acres of soybeans this year, though uneven rains and dry spells forced replanting and some abandonment. Initial production forecasts exceed 131 million metric tons, but analysts expect millions of tons of losses from dried-out fields.
Brazil's large crop and expected switch of Chinese buying to Brazilian beans in January create competition for U.S. soybean exports, while yield losses could support prices if they deepen.
agri-pulse.comBill TomsonDec 2, 2020After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
