Reply
Highlighted
Advisor
Posts: 3,952
Registered: ‎05-03-2010

Photos: Argentina's Soybean Losses Build

More heavy rain is coming, a lot of Argentina's soybeans are ruined. And the case is only worsening, according to our market analyst contact in Argentina. Here is a full interview with Pablo Fraga, BLD located in Rosario.

 

Video: Huge Crop Losses in Argentina

 

Will this help U.S. soybean exports, at a time of the year that world buyers look towards South America for fresh soybeans?

 

Mike

Veteran Contributor
Posts: 109
Registered: ‎07-07-2010
0

Re: Photos: Argentina's Soybean Losses Build

Great video Mike, never have seen ripe beans that green from sprouting out of the pods, what a mess, been a good market week hope next week is better
Advisor
Posts: 3,952
Registered: ‎05-03-2010
0

Re: Photos: Argentina's Soybean Losses Build

infire,

 

Thanks. I couldn't believe the damage. It really makes you feel for those farmers. Great year until being tripped up at the very end. That is very disappointing feeling, I'm sure.

 

Mike

 

Veteran Contributor
Posts: 94
Registered: ‎05-13-2010
0

Re: Photos: Argentina's Soybean Losses Build

Outstanding reporting Mike. Answers a lot of questions. One question, how much crop was sold earlier and now have to scramble to cover. Again, outstanding.

Advisor
Posts: 3,952
Registered: ‎05-03-2010
0

Re: Photos: Argentina's Soybean Losses Build

llakmf,

 

Thanks. I appreciate it. To put the Argentine losses into perspective, Rich Nelson, Allendale Inc. just sent a weekly statement that includes food for thought.

"There is a lot of talk this week about Argentina losing bushels due to excessive rains.  Even if you lowered their crop by a few mmt the good crop out of Brazil and Paraguay more than offset the Argentinian loss, leaving South American production at all-time highs," Nelson states Friday.

 

He may be right. But, the damage is not done.

 

Mike

Esteemed Advisor
Posts: 2,400
Registered: ‎04-29-2011
0

Re: Photos: Argentina's Soybean Losses Build

Rich obviously has most of his clients well sold on the soybean crop.

Senior Advisor
Posts: 2,442
Registered: ‎10-17-2012
0

Re: Photos: Argentina's Soybean Losses Build

Nice job there Mike - See what happens when you get out of bed before noon : ))))   Anyway - That was a first for me - never seen beans sprout in the pods like that . Thanks  !

 

ken

Senior Advisor
Posts: 2,442
Registered: ‎10-17-2012
0

Re: Photos: Argentina's Soybean Losses Build

BTW Mike - I am still having big problems with this site - any updaes on when they MAY get it fixed ?  I have a BIG hammer they can use if need be !

Veteran Advisor
Posts: 6,101
Registered: ‎05-13-2010

Re: Photos: Argentina's Soybean Losses Build

This week is a good illustration of why farmers should build grain bins and position

themselves so that they can sell when the market crys out that it wants their grain and not

simply be a price taker when forced to sell by a lender.

 

WIth a southern MN soybean basis of 80 cents under the board price, the local market

isnt crying out yet, and a farmer may have to use some additional tools to capture the rise

in prices and not lose out.

 

One thing about crops...they are there until they aren't. That is why there should always be

a futures premium built into contract sales.

Contributor
Posts: 98
Registered: ‎05-02-2015
0

Re: Photos: Argentina's Soybean Losses Build

Mike, 

 

Great interview and photographs from Pablo in Rosario. This article, Argentina Could Lose 3 Million Tons of Soybeans, has a map from the Rosario Grains Exchange showing accumulated precipitation in Argentina's central growing region between April 1-13. The average is between 2.7 and 10 inches with the darkest blue being between 10 and 15 inches.

 

bcr rainfall april.jpg

 

We referenced the rainfall in this week's South America Crop Report and the trading paralysis in Argentina, Brazil and Uruguay, although Brazil's has more to do with the rising probability that Rousseff will be impeached. Brazil's nationally televised "impeachment party" is set for tomorrow (Sunday). Get your popcorn. 

 

Thanks again for the interview and photos.  

 

Patrick