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Senior Contributor
luisvieira
Posts: 243
Registered: ‎04-24-2012
0

Re: Report timing

What I know is that Argentinean farmers are considering seriously not selling their soybean crop very soon. The measure would be a protest againt some policies from the government of Argentina. Growers pay for their agricultural inputs with dollars, but the local currency is very devaluated under the 'blue dollar' (US$ 1 = AR$ 7.80), while their soybean sales are made under the official currency value (US$ 1 = AR$ 5.05).

Advisor
rayjenkins
Posts: 687
Registered: ‎05-13-2010
0

Re: Report timing

While the global bean market wants product sooner than later, isn't this situation with Argentine farmers hanging onto to their beans pretty normal, as they do not want to risk the currency devaluation and will sell beans when they need to buy inputs, etc??

Community Manager
marketeye
Posts: 3,188
Registered: ‎05-03-2010
0

Re: Report timing

[ Edited ]

roarintiger1,

 

Argentina has 8.5% of its corn crop harvested. For soybeans, 3.6% of the total hectares are cut. Also, to date there are very few sales, due to low prices, low profitability and lower yields. Farmers are waiting for a recovery in the market prices for soybeans. Corn will not be sold until the government taps the market, most likely not until the crop is harvested .

 

I hope this helps,

 

Mike

Advisor
giolucas
Posts: 1,136
Registered: ‎06-25-2010
0

Re: Floor Talk March 8

I can hear a pin drop

Veteran Advisor
c-x-1
Posts: 3,259
Registered: ‎06-26-2012
0

Re: Floor Talk March 8

you know the US bean carryout is complete bogus!!

Veteran Advisor
roarintiger1
Posts: 1,593
Registered: ‎04-29-2011
0

Re: Floor Talk March 8

I would expect another round of Chinese cancellations,  another drop of 20-30 cents and then another round of buying by the Chinese.........we are slow learners.

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"
Senior Contributor
Buckley_HF
Posts: 165
Registered: ‎12-29-2011
0

Re: Floor Talk March 8

Cx, couldn't agree more. USDA is in LaLa land on soybean CO. The truth will be seen and felt in the next couple of months.
Veteran Advisor
c-x-1
Posts: 3,259
Registered: ‎06-26-2012
0

Re: Floor Talk March 8

right,

 

USDA just knew they could not put a minus 125 on balance sheet even though that is probably closer to reality!

Advisor
giolucas
Posts: 1,136
Registered: ‎06-25-2010
0

Re: Floor Talk March 8

Crazy ride.   Soybeans feel like they want to ignore report and go positive.  Who knows.

Veteran Advisor
c-x-1
Posts: 3,259
Registered: ‎06-26-2012
0

Re: Floor Talk March 8

yes,

gio, i'm thankin' low's in