North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Soybeans are set to establish several records this year in Uruguay: exports will be above one billion dollars; for the first time the oilseed will be the leading export item of the country displacing beef and prospects for the next season are that over a million hectares will be planted.
FAO forecasts that 2012 world wheat production will be the second highest on record at 690 million tonnes. According to FAO quarterly Crop prospects and food situation report forecast a 2012 wheat crop 10 million tons or 1.4% down from the record 2011 harvest but still well above the average of the past five years.
After back-to-back droughts, Argentine growers could have a record harvest of soybeans and corn next season as the La Niña weather phenomenon makes way for El Niño, one of the country's best-known forecasters anticipated.
Oil World cut its forecast for Brazil and Paraguay soybean production, extending the run of downgrades amid ideas that rains in the last two weeks has been insufficient to put a hold on crop losses.
As extreme drought conditions punish Argentina’s crops throughout the country farmers’ organizations are at loggerheads with the government of President Cristina Fernandez, which is refusing to increase the emergency fund for such situations and to alleviate the tax burden.
Argentina's 2011/2012 soy harvest is seen at 49.5 million tons, down from 50.3 million tons last season, the Rosario Grains Exchange said in its monthly crop report on Friday.
Brazil latest harvest (2010/2011) should reach 162.9 million tons of grains and oilseeds establishing a new record according to the latest release by the National Supplies Company, Conab.
Brazilian president Dilma Rousseff announced an agriculture support plan of approximately 67 billion US dollars with the purpose of increasing by 5% the 2011/2012 harvest of grains and oil-seeds
Brazil’s 2010/2011 crop of grains and oilseeds is estimated to reach 161.5 million tons, up 8.2% (8.2 million tons) over the previous farm year (149.2 million tons), according to the latest survey from the National Supplies Corporation, Conab.