The Buenos Aires Grains Exchange estimates Argentina's 2017/18 soybean crop at 36 million tonnes, 37.4% below the prior year, with yields at 2.14 t/ha. Harvested area is seen at 16.8 million hectares, the lowest since 2008/09 after drought and then floods.
A crop cut of this size removes a large share of global soybean and meal export supply, supporting prices for soybeans and soymeal used in feed.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.