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IBGE's fifth 2017 estimate puts Brazil's cereal, legume and oilseed harvest at 238.6 million tons, up 29.2% from 2016, on a harvested area of 60.9 million hectares. Output rose 2.4% from the April estimate, with Mato Grosso, Paraná and Rio Grande do Sul as the top producers.
Upward revisions to Brazil's record crop confirm large export availability for soybeans and corn, adding bearish pressure to world feed grain and meal prices.
agenciadenoticias.ibge.gov.brJun 8, 2017After 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 50 past neutral report events, Rough Rice moved a median -0.0% over 5 sessions (50% higher; middle half -1.9% to +1.5%), and -1.2% 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.
