CBT soybeans touched $7/bu this am.
A note that there are areas in South America but this is still very early. seeding is just getting started in Brazil and still at least a month away in Argentina. Seeding in south America starts in late October and carries right through to January (double cropped areas). South America is also a big and diverse region so you really need to be aware of where the dry conditions are.
A couple of notes from a conference. Dry conditions are having an impact on Argentine wheat. This will have to be watched. As well, dry conditions will are also reducing corn acreage (seeded earlier) and potentially resulting in more soybeans.
A final comment on canola. Have your target prices and be prepared to act when they are achieved. This may mean first half 2004 delivery period.
A note that there are areas in South America but this is still very early. seeding is just getting started in Brazil and still at least a month away in Argentina. Seeding in south America starts in late October and carries right through to January (double cropped areas). South America is also a big and diverse region so you really need to be aware of where the dry conditions are.
A couple of notes from a conference. Dry conditions are having an impact on Argentine wheat. This will have to be watched. As well, dry conditions will are also reducing corn acreage (seeded earlier) and potentially resulting in more soybeans.
A final comment on canola. Have your target prices and be prepared to act when they are achieved. This may mean first half 2004 delivery period.
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