Soybean harvest in Argentina remains slow

Soybeans ended yesterday's trading session with slight losses. However, dates for the new harvest gained slightly. Soybean meal did not continue its rise of the past few days. The price of contracts fell across all tradable dates. Unfortunately, soybean oil left the penultimate trading session of this week with gains. Last week's US export bookings were disappointing across the board and, at 210,000 tons, were below analysts' most pessimistic estimates. According to figures from the Grain Exchange in Buenos Aires, the soybean harvest in Argentina continues to make slow progress. Harvest progress is reported at 22 percent. Usually, 47 percent of the fields have already been harvested by the end of April. The proportion of plants in good or very good condition is still reported at 30 percent, but the proportion of crops in poor or very poor condition has increased by one percentage point. In pre-market trading this morning, soybeans are again showing slight price setbacks.

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