Brazil and Argentina production estimates are going up, but hailstorms ruined soybean and corn crops in Argentina’s Santa Fe Province. However, La Niña is forecast to be relatively mild this year, according to NOAA forecasters.
Cheaper imports from Mercosur and the recovering dairy market will push down EU beef production and prices, states in a long-awaited impact study released by the European Union. Dairy and pigmeat exports will see steady gains, says the report, which looked at the cost of 12 pending trade deals on EU agri-food markets.