Argentina’s soy harvest will be the worst in 23 years.
American soy acreage is unchanged this year.
The USDA expects record Chinese soy imports this year.
While yields were busy COLLAPSING in Argentina during the “what should I plant this year?” season in North America (November 2022 through February 2023)…
That looked like this on the ground…
And results in this production loss…
With US soybean ending stocks that look like this…
The US farmer decided to plant this…(the same acreage as last year…NO change!)…
Leaving these guys in a bad spot…(first estimate from USDA’s ag attaché in China forecasts record imports)!
It should be a fun summer!
Walter Cronin
Walter Cronin served as Chief Commercial Officer at Green Plains Inc. until August 2021, previously holding roles as Executive VP for Commercial Operations and Chief Investment Officer at its subsidiary, Green Plains Asset Management LLC. He worked with County Cork Asset Management and consulted for Bunge Limited, developing trading and risk models. Walter co-managed programs at Kottke Associates, managed grain operations for RJ O’Brien Futures, traded grains for Continental Grain Company, and worked for Henning and Krajewski at the Chicago Board of Trade. A former Peace Corps volunteer in Kenya, he holds a BA from the University of Santa Clara.
Grain production in Brazil is now responsible for more than 50% of nat...
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