After dreadful year, great expectations in Argentina with 2012/13 soybean crop
Argentine farmers will increase soy planting by almost 4% following a year of bad global crop weather. In the first soybean area estimate of the 2012/13 season, the Argentine Agriculture Ministry said 19.4 million hectares will be sown in the weeks ahead compared to 18.7 million hectares in 2011/12.
Tight grain stocks after a year of dry farm weather from Iowa to southern Russia to Australia may push prices up to record highs as traders wait to see if upcoming harvests will be big enough to stave off a full-blown supply crisis.
Chicago soybean futures have already risen 18% this year, with corn up 12% and wheat up 31%. Sharp food price increases have serious implications for the global economy, driving up inflation at a time when consumers in many developed countries are struggling with rising unemployment.
Argentina is the world’s third-largest soybean exporter after Brazil and the United States. The country is also a top corn and wheat supplier and is key to bolstering world food stocks.
The United Nations predicts global food demand will double by 2050. South America is being counted on to provide most of the increase in world grains production between now and then.
While most industry analysts say Argentine soy plantings will increase this year, growers are struggling to keep early seeding on schedule because of flooding caused by months of heavier-than-normal rains.
Farmers in the main agricultural province of Buenos Aires have watched their heavy seeding machines get stuck in the mud after a series of storms started lashing the Pampas in August.
The US Department of Agriculture expects Argentina to harvest 55 million tons of soy, 11.5 million tons of wheat and 28 million tons of corn in the 2012/13 crop year.
In its weekly crop report on Thursday, the Buenos Aires Grains Exchange said farmers had so far seeded 22% of the estimated soy area of 19.7 million hectares. With regard to commercial-use corn, 45% of the 3.4 million hectares expected to be planted this year have been seeded, according to exchange data. Farmers have collected 15% of 2012/13 wheat, progressing by 2.5 percentage points during the week.
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22 comments Feed
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Welcome to 1850!
How pathetic.
You can sow 19.4 million hectares but the harvest is totally weather dependent - unless CFK can control this also. If it all comes to harvest, good luck to them.
en.mercopress.com/2012/11/07/soy-crop-prospects-fin-south-america-down-argentina-excessive-water-in-brazil-lack-of-rain
So this positive outlook comes from the Argentine Agriculture Ministry. Can we identify any organ of the argie government that EVER tells the truth?
samething here in the USA
11 yankeeboy “It is also pretty hard to plant when your fields are under water. If this turns into a 2nd year of poor crops they may have quite a few pols swinging from trees by next year”
en.mercopress.com/2012/09/11/cristina-fernandez-targets-argentines-
going-abroad-to-contain-outflow-of-dollars
23 yankeeboy (#)
“ JoJo, I am sure they will be using the barley themselves to make up for the poor wheat crop, freezing weather and fields underwater is not helping with the planting very much”
en.mercopress.com/2012/10/05/argentine-coast-and-border-guards-conflict-unchanged-in-its-fourth-day
1 yankeeboy
“I hope Argentina is forced to buy Wheat from the USA. I hope I hope I hope”
en.mercopress.com/2012/11/04/argentine-farmers-claim-floods-are-delaying-sowing-and-threaten-expected-2012-13-boom-crop
And now
“ great expectations in Argentina with 2012/13 soybean crop”
Poor Fred yankeedummy, wrong as usual :-)))
Hint, I've never seen Soy bread or Pasta in RG stores.
Even a banner crop won't save Argentina from Devaluation and HYPERINFLATION
I will laugh and laugh if you have to buy WHEAT from the USA laugh and laugh
You will laugh? I am laughing now :-))))))))))))))))))))))))
Did Obama kick Romney's butt too? Your prediction was right on the money again Fred :-)))
rut ro
Barley soup barley bread
barley para todos
I wonder how much barley bread you can buy with Patacones....
Is that what you eat“Mr Clean”?
Congratulations in your US election prediction.
The MBOA better not apply restrictions like the last time.
Welcome to 1850!
How pathetic.”
Really? Last time I checked Canada and Australia are pretty much dependent on the weather, and general resources for their economy (forestry, oil, and mining).
So?
Heck, we are not the country that collapses even at the hint of an Arab-oil embargo (remember the 1970s?, in that decade the Arabs DESTROYED your economy just be tightening the faucet a little bit)...
Now that's pathetic, hahahahaha.
He according to the song had noballs at all
Stupid brainwashed camporista/cristinista piece of shit.
I'm argentine just like you, but unlike you, i have a different perspective of things and i don't support this regime.
Too bad Argentina can only sell things that come out of the ground. Has anything changed there in the last 100 yrs? Oh yeah you are 40 places lower on GDP. No country has fallen further and faster than Argentina.
haha
Yes Fred, they had exported so much that your biggest city, New York, still is out of gas :-))
BTW how many factories had to shut down in BA this year because there was no gas? Couple 100? Please confirm.
The USA is very happy to sell you oil/gas and wheat. Just give us a call but we don't take pesos,
Are you protesting or did you spend the night at work?
160 road cuts today, no trains, subway, airlines...what a paradise!!
losers
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