Conditions in the global soy crushing market have taken a "dramatic turn" for the better over the past two months, Citi analyst David Driscoll tells investors in a research note. He points out that drought has struck in Argentina, shrinking the size of the new crop which begins harvest in April. Global crush margins should expand in 2018, as Argentina has less meal to export, the analyst contends. To reflect an improving soy story, Driscoll upgraded both Archer Daniels Midland (ADM) and Bunge (BG) to Buy from Neutral. Further, the analyst still sees Bunge as a potential takeout candidate, with a potential deal range from $85 to $100 per share. Driscoll raised his price target for ADM shares to $49 from $45 and for Bunge shares to $89 from $75.