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Argentine farmers carried over a record share of the 2016/17 soybean crop, with only 74% sold by the end of 2017. Growers are holding beans while export taxes fall and the peso is expected to weaken.
Sellers are also using soybeans as a store of value amid high inflation.
Slow farmer selling tightens near-term export supplies of soybeans and meal, supporting world soybean and meal prices until farmers release stocks.
agricensus.comJan 9, 2018After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
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.
