CBoT soybeans in the weather market

After the Sojabohnenfutures pocketed the significant losses in the last week, the price of the CBoT Futures is supported this morning because it was not raining in Argentina. There, it is too dry in the core area of soybean cultivation for weeks.
Also the Getreidefutures on the CBoT start harder in the weeks between the years. Broker from the far East suggest short covers as a reason. But also the dryness in Argentina is increasingly becoming the issue among investors. If there is crop damage, we see further price increases, suspected Kaname Gokon broker in Tokyo.
In parts of Argentina, strong precipitation went down the Christmas weekend, they reached but not the South-East of the South American country, the bread basket in the province to Buenos Aires, where many soybeans are grown and it is particularly dry.
Argentina's farmers want to increase agricultural production supported by the agricultural policy of the President Mauricio Macri, but the weather is not.

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