How much soybean does South America have stocked? It is one of the questions on the mind of the market and one DTN Analyst Todd Hultman discussed in a recent blog post.
An interesting sub-question is how big are Argentine farmer stocks?
This delicate issue was something that I discussed with various sources during my trip to Argentina last week.
As Argentina falls deeper and deeper into economic crisis, the farmer's instinct is to stockpile his soybeans.
It is an instinct honed during decades of economic instability and makes perfect sense in the current environment.