Loading…
Gro Intelligence reports that Brazil is heading for a record soybean crop despite a slow start to planting, which was hampered by little rain in Mato Grosso during the first half of September. The analysis points to further area expansion in coming seasons.
Expectations of a record Brazilian crop and expanding area add to global soybean supply, which is bearish for soybeans and meal prices, especially as Brazil dominates export markets.
gro-intelligence.comNov 21, 2019After 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
