The soybean harvest in Argentina in 2017/18 is estimated by the Rosario Grains Exchange to be only 40 million tonnes today. This is 6.5 million tons less than in the previous estimate of the stock market. The USDA was also in its last estimate of 08.03. still assumed a harvest of 47 million tons.
The South American powerhouse for agricultural exports has been suffering from drought for nearly four months, causing soybean and corn yields to shrink.
So far, it has been said that a big crop in Brazil can compensate for the crop failure in Argentina; but that is hardly possible now. Soybean prices on the CBoT are on the rise again today.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
