Significant crop losses could be occurring in Brazil as harvest begins next week due to irregular rainfall.
Buenos Aires, ARGENTINA (Agriculture.com)-- As the new president of Argentina, Maurício Macri confirms today the end of the export tax for wheat, corn, beef, and sunflowers, added to a reduction of five percentage points per year for soybeans, analysts have diverged about a forecast of the U.S. Department of Agriculture that just increases the South American country's soybean exports by 500,000 tons during the 2014/15 crop season. Most experts say that the U.S. agency has underestimated significantly the real potential of Argentina shipments this year.
BUENOS AIRES, Argentina - Argentina’s new President-elect is expected to drop soybean export taxes considerably, creating market-fear over a wall of soybeans entering the global export market.
The news sharply dropped the soybean futures market, initially Monday, though the complex rebounded today.
PORTO ALEGRE, Brazil (Agriculture.com) - As the soybean prices in Chicago may be worrying a lot of farmers in several places, Brazil might increase its surface dedicated to the oilseed during the 2015/2016 crop season. According to Carlos Cogo, an experienced consultant based in Porto Alegre, Rio Grande do Sul, the total soybean area in the country will jump to 81.2 million acres or a production of 100 million metric tons - up from 78.8 million acres in 2014/2015.
A recent trip to China shed insights on the country’s farming challenges and opportunities.
The Chinese government has planned one of the biggest rural exodus in recent history.
SHANGHAI AND BEIJING, China (Agriculture.com) - The Chinese grain stocks, purchase intentions, and production estimates are always an issue of concern and subject of curiosity for the followers of the markets.
However, when one goes to China it is relatively easy to find the reasons and the data that some folks may be eager to know in the U.S., South America, and around the world.
The downward pressure on corn can deepen over the next months considering the projections coming out of Brazil. Brazil's National Supply Company released its report this Thursday (06.11) and forecasts a record production of 49.8 million tons for the second
The markets might be looking for a bullish factor for corn and soybeans in 2015. However, this bullishness will not come from South America this year.
The USDA forecast, this week, a record soybean production for Brazil in 2015/2016 at 97 million tons. This is contrary to what many expected.
Also, Brazil's Agriculture and Livestock Minister, Kátia Abreu, announced that the 2015/2016 crop plan will have a total release of R$ 187.7 billion (US$ 60 billion) in funds to finance the season either in cost or investment. This is a jump of 20% compared to the previous year.
The blockades are an issue of deep concern for farmers and deserve a close market-watch as it affects at least six important agricultural states of Brazil.