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Senior Contributor

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).

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Veteran Advisor

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??

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Veteran Advisor

Re: Report timing

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

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Veteran Advisor

Re: Floor Talk March 8

I can hear a pin drop

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Veteran Advisor

Re: Floor Talk March 8

you know the US bean carryout is complete bogus!!

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Honored Advisor

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.

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Senior Contributor

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.
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Veteran Advisor

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!

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Veteran Advisor

Re: Floor Talk March 8

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

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Veteran Advisor

Re: Floor Talk March 8

yes,

gio, i'm thankin' low's in

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