Soybean: South America weather market

Diminishes the fear that more heavy rain in Argentina could further stress soybeans, and also the courses of the CBoT Sojabohnenfutures give their previous gains on the third trading day in a row.
Investors have begun to realize their profits, after the weather risks in Argentina are dwindling. There hot and dry weather is expected this week, thus the soils supersaturated with rain should dry quickly.
Experts of the Rosario grains Exchange in Buenos Aires had last week its crop estimate for soybeans in the season reduced from 54.4 to 52.9 million tons due to difficult weather conditions in 2016/17.
On Friday, agricultural economists in Brazil reported however of the harvest work in Brazil are delayed by rains since last Tuesday. The quality of the beans will suffer.

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