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Argentine farmers had sold 31% of an expected 49.7 million metric ton soybean harvest by early May, the slowest pace since at least the 2014/15 season, according to government data. Farmers are holding beans while waiting for higher prices.
The harvest was affected by heavy rain.
Slow farmer selling reduces near-term export supply of soybeans and meal, which supports nearby prices while farmers hold out for better levels.
reuters.comMaximilian HeathMay 20, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
