Wednesday, March 21, 2012

Drought spreads to Brazil, crop yields hit

Terra Daily via UPI: Drought has spread from Argentina and Paraguay to Brazil and is hitting soy yields at a time of concerns that regional economic growth may suffer as pressures mount on commodity prices.

Argentine yields of soy were affected by drought and labor disputes in that country are making farmers and grain traders jittery. Drought caused widespread economic dislocation in Paraguay, which was also hit by cattle disease.

Analysts said drought-related developments in Brazil had led to lower yield estimates, slicing about 2.8 million tons off an original estimate of 67.1 million tons for this year's harvest. The revised estimates are subject to further review, said the analysts.

Soy oil has gained importance in the energy market as a feedstock for the booming international biofuels sector....

Biodiesel from soy, shot by Leandro Maranghetti Lourenço, Wikimedia Commons, under the Creative Commons Attribution-Share Alike 3.0 Unported license

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