19.
01.17
07:56

Argentina's heavy rain events limit price declines at the CBoT bean

The heavy rain events in Argentina's agriculture regions keep the CBoT Sojabohnenfutures in motion. Already since four trading days, the courses and that rose despite a stronger U.S. dollar and the mollifying statements by Argentine experts, that possible damage are regionally limited.
Abundant rains had used many arable land in Argentina under water at the weekend, where still no soy beans are sown, dodging farmers now on corn. They doubt that the previous seeding can bring high returns. Attention, the weather reports from there see oilseed consumers all over the world.
On the other hand, extremely high soybean yields to overcompensate in Brazil possible failures in Argentina. The consulting firm of Agroconsult estimated last week that Brazil will be a record harvest for soybean in 2016/17. The experts come from 104.4 million tons. The estimates still to 102.6 million tons were in the previous month and the vegetation conditions are excellent. The harvest in good weather conditions has already begun in some parts of the country.
As in most years, there are strikes of the carriers there again now. The tough competition but still ensures that the transport on the coast are maintained.
Also the price of the U.S. dollar against a basket of major currencies yesterday strengthened after the FED President Janet Yellen said that interest rates in the United States can get it soon again. A more expensive dollar ensures that the raw materials listed in the greenback for importers are more expensive.

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