09-20-2013 10:05 AM - edited 09-20-2013 10:37 AM
Torrential rains and storms are not just happening in Central Iowa. In northern Argentina, for instance, strong rains were frequent over the last seven days and have been impeding the corn planting. Even so, the rains did not bring enough moisture to the fields, which had been dry for the last months. The corn planting in Argentina just reached 2.8 percent of the total 8.1 million acres area. This is a delay of 2.2 percent compared to last year, according to the Buenos Aires Cereal Exchange.
And so what for the market?
09-20-2013 10:16 AM - edited 09-20-2013 10:16 AM
Yesterday news of soybean planting in South America and the market came down, today there is more rain in the forecast in the Midwest and still the market down hard. WTF.
09-20-2013 10:59 AM
You've mentioned beans. That's the only thing that has brought money for the Argentines. Actually, they announced today that the area will be record in the 2012/2013 season for soybeans to 50.9 million acres. Corn area dropped to 14 million acres from approximately 15 million acres in the last season.