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Brazil's soybean planting reached 95% completion, and AgRural raised its soy production estimate to 101.8 million tonnes. Conab forecasts 102.45 million tonnes of soybeans and 213.1 million tonnes of total grains, up 14.2%.
Larger Brazilian soybean and grain forecasts increase global export supply, which pressures soybean, meal and corn prices lower through the South American harvest.
agriculture.comSuccessful Farming StaffDec 22, 2016After 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.
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.
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.
