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FAO forecasts Latin America and the Caribbean cereal output at 276.5 million tonnes, 14% above the five-year average. South American maize is projected at a record 169.5 million tonnes, with record Brazilian and Argentine crops.
Central American and Caribbean output is below average due to rainfall deficits.
Record South American maize supplies add to export availability and pressure world corn prices lower. Strong Brazilian and Argentine supplies also weigh on soymeal and feed-ingredient pricing.
fao.orgMay 12, 2019After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
After 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.
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.
