# Argentina soy farmers wait on rising prices to sell rain-drenched crop | Reuters

> 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.

- Date: 2024-05-20 · published 2024-05-20T12:00:00.000Z
- Category: market · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/13922-argentina-soy-farmers-wait-on-rising-prices-to-sell-rain-drenched-crop-reuters
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Slow farmer selling reduces near-term export supply of soybeans and meal, which supports nearby prices while farmers hold out for better levels.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/americas/argentina-soy-farmers-wait-rising-prices-sell-rain-drenched-crop-2024-05-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.