
A worst-in-a-generation drought from stretching across the United States is damaging crops and rural economies and threatening to drive food prices to record levels. Agriculture, though a small part (1.2%) of the 15.5 trillion dollars US economy, had been one of the most resilient industries in the past three years as the country struggled to recover from the recession.

Next season, 2012/13 Brazilian soybean growers could be in place to jump from the world's No. 2 producer and dispute the US first place. Brazil's 2012-13 soybean production is expected to rise 25% from this season’s drought-punished, to 83.1 million tons.

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.

The Euro-leaf EU organic logo was introduced on 1 July 2010, but in order to help operators adapt to the new rules, and to avoid waste of existing packaging, a 2-year transition period was allowed before it was compulsory on all products.

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.

A second global food price shock is gathering steam as bad weather decimates crops in the farming giants US, Brazil, Argentina, India, Russia, the EU and Australia that feed the world, according to market analysts.

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.

Brazilian president Dilma Rousseff has unveiled a 115-billion-Reais (55 billion dollars) loan program aimed at reinforcing agriculture's role as a lever of Brazilian economic growth.

Chinese Premier Wen Jiabao arrived in Argentina Saturday on an official visit aimed at boosting trade with one of South America's top agricultural producers.