Saturday, March 2, 2013

Argentine soybean yield goes below budget

Seed Daily via UPI: Argentina's soybean yield will be much lower than expected, affecting national income projections based on exports in the coming months. The government blamed drought for the downturn. Argentine agriculture suffered from dry weather most of 2012 but some relief was seen after February rains.

Argentina's earnings projections are far from clear because of the reported setback to timely irrigation. Trading on the International Exchange in Chicago is mixed because of poor crop results from across South America and the United States. Soybean futures were supported by reports of long delays at Brazilian ports and mixed weather elsewhere in South America, including major exporter Argentina.

The Rosario Chamber of Commerce in Santa Fe province estimated Argentina will produce 48 million tons of soybeans in the 2012-13 season. "There is at least a million tons reduction against previous forecasts," reported on its website....

An Argentine soy field, shot by Alfonso, Wikimedia Commons, under the Creative Commons Attribution-Share Alike 3.0 Unported license

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