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Conab forecasts Brazil's 2018/19 grain harvest at 238.3 million tons, up 4.5% year on year, with soybeans at 116.7 to 119.3 million tons and corn at 90 to 91 million tons. The agency credits favorable weather for the strong outlook.
A larger Brazilian soybean and corn crop increases export availability and competes with US supplies, which is bearish for global feed grain and meal prices.
poandpo.comNov 10, 2018After 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 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 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.
