Argentina Main Soy Area missed rain last night!

[SASKFARMER3]

Seems the clouds came in gave a little by
the coast then split and gave a little on
West Boarder.
Corn is pouched but this could have helped
Soy. But forcast for dry for the next week
to 10 days. Soy production will be down in
Argentina. Wont grow wheat now either
without rain.

[SASKFARMER3]

The key point I think to take away from
this rain event is that it
only covered about 30% of the grain
belt.

From what I was reading Friday, the
weather runs were were expecting
90% coverage with 1-2 inch amounts.
This was not the case.

This should be supportive to prices
tonight and maybe
strongly supportive, especially if
todays weather runs are weak
on future rainfall amounts.

[$short]

What time do the markets open at night?

[SASKFARMER3]

Their open and up ten cents at open.

[bucket]

Seeing some video on Argentina and I don't know how they expect anywhere close to an average crop.

Like I said on a previous thread, how can you expect yield improvement with a rain a week ahead of harvest if your last rain was 60 days ago???

[bucket]

China is on holidays, so when they sober up in a week or two, this may have the making of a supply/demand bull run.

[bucket]

Good open tonight, hope this has the legs like in february of 2008.

Another interesting article on reuters tonight about their record imports of wheat and durum in 2011 to keep the riots quiet.

[bucket]

That was about Algeria's record imports.

[theplowboy]

Nice rally in soys today. Looks like China is
buying US soys. I wonder how long this rally can
go?

[furrowtickler]

Till this a.m. Heavy rains in one area and boom, there goes the rally.