Markets watching crops in South America.

[buzz]

Do you guys have any thoughts on how much this news can swing grain prices on us?

I like checking this website to see what is happening in South America with crops.

http://www.soybeansandcorn.com/news/Feb10_17-Conab-Increases-Soybean-and-Corn-Estimates-in-Feburary-Reports

[farming101]

A good reference.
Latest wasde put Argentina soybeans down 1.5 mmt
Also latest wasde puts world ending stocks as a percent of total supply at about the same as last year
Combined soybean,meal and oil ending stocks lower
Price action on Friday shows what the market thought about the reports for this week

[errolanderson]

Overall South American soybean production will be another record. Brazil's production is now expected to jump about 10 percent to 106 to 107 million MMT. Brazil's increase dwarfs losses in Argentina. USDA estimate of 104 MMT is well below Brazilian estimates and will likely be revised higher (IMO).

Despite this huge production increase, soybean prices have done exceptionally well. May beans approached $10.75 per bu last week. U.S. exports were poor last week, but active fund buying. Now becoming technically toppy? Bean gains have contributed solid price support for ICE canola.

[bucket]

It's interesting that some people don't understand what a half inch of rain does at harvest time let alone what's happening in South America.

Experts/analysts in Canada still count 1.5 million acres of canola in the field as production and work it into the carryover .....

[SASKFARMER]

Flood reports again.