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USDA FAS cuts Argentina soybean estimate
The USDA’s Foreign Ag Service has lowered its outlook for Argentina’s soybean crop because of weather problems.
The FAS has production at 50 million tons, down 1 million from the previous projection because of dry conditions in parts of Argentina reducing yield potential in early planted soybeans, causing some producers to delay planting with the USDA expecting lower yields in those later planted beans.
The FAS also lowered Argentina’s soybean export and crush projections.
The USDA’s next set of South American production estimates is out January 12th.
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