Loading…
Conab put Brazil's 2019/20 soybean production at 123.2 million tonnes on a 2.3% rise in planted area, with 16% of the crop harvested. Conab cut the first corn crop by 1.8% on drought in Rio Grande do Sul, but raised second-crop acreage, lifting total corn output to 100.5 mmt.
A weaker real is encouraging soybean exports.
A larger Brazilian soybean crop and a fast export pace add to global supply and pressure soybean and meal prices. The drought-driven corn cut is partly offset by the second crop, so corn impact is limited.
agriculture.comFeb 12, 2020After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
