Soybean market eyes argentina’s weather

The market attention has been slowly shifting to South America, where a growing crop is just emerging, and planting is finishing up. Weather forecasts in South America are a bit wetter, especially in Argentina for the next 14 days. Now precip is forecast above normal in Argentina the next 7 days, with the 8-14 day forecast for more precip as well (closer to average rather than below average). That is slightly negative and is pressuring soybeans. Temps still forecast mostly normal across both Argentina and Brazil for the next 14 days, which keeps the forecast relatively non-threatening.