Argentina

Analysts say the trade expected a bullish USDA report. With minimal changes, traders sold the market and commodity prices dropped.

Argentina’s farmers, who are harvesting a record soybean crop, would have to boost storage investments if torrential rain forecast for the second half of the year materializes. El Nino is always bad news for Argentine farmers as it causes drought in some areas will and heavier rain in other areas, requiring more protection for stored crops.

Argentina has become the epicenter of soybean trading dynamics -- at least for now.

Get your day started with a brief rundown of key news.