Brazilian farmers are preparing for another soybean planting season, the 2022/2023 harvest with the critical component of fertilizers to ensure high productivity and yields, on the tracks.
Argentine farmers have sold 15.2% of the country’s 44 million-ton 2021/22 soy crop in seven days since the government implemented a more favorable exchange rate for cash crop exports, Rosario grains exchange reported.
Brazil's government CONAB, (National Supply Company) anticipated that the 2022/23 grains and oil seeds harvest would reach 308 million tons, given the good performance and strong international demand for corn, soybean, rice, beans and cotton.
Brazil expects soybean exports to reach 76.8 million tons in 2022, a 200,000-ton decrease from the estimate released in June, while oilseed processing in the country was adjusted upwards, with good margins for the production of bran and oil, according to Abiove, the Brazilian Association of Vegetable Oil Industries
Drought is causing havoc in Argentina and Paraguay. Argentina’s wheat crop for the 2022/23 season is the most delayed in a decade, as a period of lack of rainfall and early frosts is forcing farmers to delay planting the winter crop.
Soybeans, corn, sugar, coffee, beef, pork, and chicken are the main goods in Brazil’s export portfolio, and should benefit from the current 'food inflation' in world markets until probably 2023, says analyst Elizabeth Johnson from the TS Lombardy consultancy.
Despite a reduction of 10.5 million tons from the original estimate, leaving total production well off the record of 138.8 million tons from 2021, the Brazilian Association of Vegetable Oil Industry did not change its processing forecast for this year, which is projected at 48 million tons with healthy margins in the manufacture of bran and oil.
Paraguay's meager output of soybeans this year will prevent it from capitalizing on soaring international prices, it was reported in Asunción.
The Government of Argentina Monday went back on its steps and reopened exports of soybeans and their by-products after a decision on March 13 to close the registry for sales abroad imposed by Undersecretary of Agricultural Markets Javier Preciado Patiño.
The government of Argentine Sunday decided to shut down all registrations for new soybean oil and soybean meal exports until further notice, it was announced. Authorities are also said to be planning a 2% rise to export taxes of industrial by-products, to level it up with the 33% charged to soybeans.