Argentine crop is not improving. Recent rains further delayed the harvesting process. From fields that are harvest in the meantime, it’s clear that yields are worse than expected. Too early to give overall average, but in the final stage of the crop, in certain areas an additional 25% of peanuts are lost. Also – as expected – the aflatoxin issue has come to the surface. It will take a little magic on the part of the processors to turn this crop into a good quality exportable product. Actual shipments will be executed with delay, it will be middle of July before substantial volume will be shipped. This might put pressure on the spot and nearby market
ARGENTINA: Late rains hinder final harvesting process. bullish ↔ ↑BREAKING NEWS ARGENTINA
