Reuters beats rivals with first Argentine soy harvest estimate

Reuters beat the competition on Jan. 28 with the Buenos Aires Grains Exchange’s first forecast for a record Argentine soy crop of 51 million tonnes, outpacing Bloomberg by more than a minute and ahead of Dow Jones. Argentina is a leading global supplier and forecasts for a bumper South American crop have been weighing on U.S. futures in recent days. Corn futures fell to a two-and-a-half month low in late January, mainly due to forecasts for a bumper harvest in South America. Reuters was 40 minutes ahead of Dow Jones with a new harvest estimate for Argentina, the world’s No. 2 supplier. The first estimate of the season from Rosario grains exchange was the highest yet and added to the bearish mood in Chicago.