Argentine concerns push soybeans to another upside attempt, Cattle See New Contract Highs March 6, 2023
Soybeans did a reasonably good job in today's renewed concern with Argentina. There are only six other days in this uptrend with a higher high than today in the May contract. Combined with hope for a China buy or two, the week started off on a positive note. There are questions about how much is left for Argentine production declines. Current 31 - 32 mt expectations already suggest a -30% to -40% yield deviation. Additionally, we're back at prices which generally failed in prior attempts.
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Allendale Insider
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