The World Bank on Monday said it stood ready to help governments respond to a broad-based run-up in grain prices that has again put the world’s poorest people at risk and could have lingering detrimental impacts for years.
The commodities soy and corn’s prizes sky rocked on Thursday thanks to the severe drought that has been punishing the United States heartland. Soy and corn were being sold at record high of 638.89 dollars/ton and 320.26 dollars/ton respectively.
Argentina's 2011/12 soy harvest has come at an expected 39.9 million tons, but 20% lower than the previous year's crop after a Pampas dry spell dashed early-season hopes of bumper crop, the Buenos Aires Grains Exchange said on Thursday.
World farm commodity prices will edge higher in the next decade, and oilseeds are set to outperform wheat and other cereals, both trends fuelled by demand in emerging economies, the OECD said on Wednesday, presenting a joint report with the UN's food agency FAO.
By Jeremy Hobbs - The following column was published in The New York Times Opinion page.
It gives another side of the current situation in Paraguay, and the role the landlocked country plays as a leading exporter of the oilseed.
Brazil could soon run out of soybeans to export this year after farmers’ frontloaded their shipments more than normal to cash in on high international prices and a favourable exchange rate.
Corn fell in Chicago on concern a record harvest in Brazil’s Mato Grosso state may add to a supply glut and on speculation slowing US economic growth will cut demand for grain used to make ethanol.
Argentina's biggest grains exchange trimmed its forecast for 2011/12 soy output this week to 40.5 million tons, down from May's estimate of 40.9 million tons as harvesting enters the home stretch.
Illegally smuggled into Brazil 14 years ago, transgenic soy has proved a boon to domestic farmers and now accounts for 85 percent of total production. But five million Brazilian farmers are now locked in a legal feud with US biotech giant Monsanto, the GM soy seed manufacturer, and are refusing to pay crop royalties.
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.