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Argentina Main Soy Area missed rain last night!

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    Argentina Main Soy Area missed rain last night!

    Seems the clouds came in gave a little by
    the coast then split and gave a little on
    West Boarder.
    Corn is pouched but this could have helped
    Soy. But forcast for dry for the next week
    to 10 days. Soy production will be down in
    Argentina. Wont grow wheat now either
    without rain.

    #2
    The key point I think to take away from
    this rain event is that it
    only covered about 30% of the grain
    belt.

    From what I was reading Friday, the
    weather runs were were expecting
    90% coverage with 1-2 inch amounts.
    This was not the case.

    This should be supportive to prices
    tonight and maybe
    strongly supportive, especially if
    todays weather runs are weak
    on future rainfall amounts.

    Comment


      #3
      What time do the markets open at night?

      Comment


        #4
        Their open and up ten cents at open.

        Comment


          #5
          Seeing some video on Argentina and I don't know how they expect anywhere close to an average crop.

          Like I said on a previous thread, how can you expect yield improvement with a rain a week ahead of harvest if your last rain was 60 days ago???

          Comment


            #6
            China is on holidays, so when they sober up in a week or two, this may have the making of a supply/demand bull run.

            Comment


              #7
              Good open tonight, hope this has the legs like in february of 2008.

              Another interesting article on reuters tonight about their record imports of wheat and durum in 2011 to keep the riots quiet.

              Comment


                #8
                That was about Algeria's record imports.

                Comment


                  #9
                  Nice rally in soys today. Looks like China is
                  buying US soys. I wonder how long this rally can
                  go?

                  Comment


                    #10
                    Till this a.m. Heavy rains in one area and boom, there goes the rally.

                    Comment

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