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eSNAPSHOT Research Center
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Argentina Still Center Stage
The midday weather update on Monday offered slightly more rain for central Argentina. The increase is not a drought-ending amount. The overall tone to Argentina is still net drying into the end of the week. We generally do not watch corn Export Inspecti
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Does Argentina Really Matter
Sources within South America's Argentina suggest the current dry weather represents the worst drought in recorded history, more than 100 years. Recently Argentina's Agriculture Secretariat announced a 7.3% reduction in soybean plantings and 2.4% in corn.
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Tyson Food 4th Quarter Hog Profits Decent
While we knew the trade would take last Thursday's Cold Storage report bearish, we have to admit Friday and Monday price action is a bit more than bargained for. There are concerns about pork exports and pork packers have negative margins for this week.
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Cattle Segment Of Tyson Breaks Even
The commentary written last Friday laid out clearly, the supply situation for beef in the first half 2009. We ended with, "does it matter?" Given the intense focus this market has on the economy, and Monday's price action, that was the right attitude.
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