date:Oct 22, 2012
rgentina expect soybean production to be near 55-58 million tonnes in 2012/13. The USDA has corn production for Argentina at 55 million tonnes.
A closely followed private analyst reported that they expect 2013 soybean planting to rise to 79.98 million acres vs. previous forecasts of 79.87. Production was also increased to 3.453 billion bushels vs. 3.449 billion previously. The news was considered slightly bearish which added to the downside momentum.
Long term support continues to be found i