Soybean and Corn Advisor President Michael Cordonnier cut his Argentine soybean crop estimate by two million metric tons due to ongoing drought. Cordonnier says Argentina is a mess. “There’s problem after problem. They had an unbelievable early frost where it went from 85 degrees to a frost in the same week.” Cordonnier expects Argentina’s farmer to be very slow sellers of soybeans. Argentina offers special programs where farmers can sell soybeans at a favorable exchange rate. The program opened twice last year and Cordonnier thinks the government will open it a third time.
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