Brazilian farmers will have a record soy output in the new season as they are sowing the oilseed over a larger area, the government’s crop agency Conab said this week in the first forecast report for the 2023/24-grain cycle.
While Argentina struggles to recover from decades of merciless populism, Brazil plans to produce 390 million tons of grain in the next decade, according to a study released on July 20 by the Ministry of Agriculture.
Brazil's National Supply Company, Conab, anticipated forecasts for the coming grains and oilseeds season 2021/22. The soy crop is expected to reach some 141,26 million tons or a 3.9% increase over the current harvest.
Soymeal manufacturers in Argentina presented late on Tuesday a proposal aimed at ending a two-week strike by oil and port workers unions that has thrown a wrench in the flow of agricultural exports from one of the world’s main bread baskets.
Argentine grains inspectors and oilseeds workers started a new wage strike on Wednesday, organizers said in a joint statement, as stalling contract negotiations threatened to interrupt exports from one of the world's main bread baskets.
The labor union representing Argentine grains port workers said it would stage a 24-hour walk-off from midnight after failing to strike a deal on a collective work agreement with the business chamber that represents private port owners.
Brazil's 2019-20 crop of grains and oilseeds is expected to reach a record of nearly 250 million metric tons, mainly driven by a sharp recovery in soybean production, even as inclement weather in southern regions of the country is raising concerns about the corn crop.