I got an e-mail from Iowa the other day, asking about Argentine producers holding off on selling beans. It's true, I said. But it's also true in Brazil. Mato Grosso farmers are about 11 percent behind last year in selling their 2013-14 beans.
One reason for that is they are better-capitalized than ever at the moment, and part of it may be old-fashioned optimism that prices will just continue to rise into the future.
But, in the spirit of due diligence, I picked up the phone for some…