Brazil posted a trade surplus of 2.355 billion dollars in October, beating forecasts for a third straight month, outpacing imports in the final days of the month following a recovery in global commodities prices.
Uruguay’s Central bank sees “few probabilities” of a strong deceleration in emerging economies or a ‘significant’ fall in commodities prices even when lately there has been a drop in the value of grains although still above their historic average.
Argentina's 2011-12 soybean area will likely rise 0.6% on the year to 19 million hectares, the Agriculture Ministry said in its weekly crop report. The forecast is the first from the ministry for soybeans, the country's top crop and export.
Argentina's 2011/2012 soy harvest is seen at 49.5 million tons, down from 50.3 million tons last season, the Rosario Grains Exchange said in its monthly crop report on Friday.
Argentina 2010/2011 crop reached 102.082 million tons of grains and oil seeds, a ‘historic record’, according to an official release from the Ministry of Agriculture.
In twelve years Mercosur has consolidated as the leading region in soybean production with 52% of the world crop and the potential to further expand area and yields.
Experts from South America, US, Europe, India and China will be discussing next week in Rosario, Argentina the possibility of an Asia-Mercosur grains and oilseeds market in which soybeans will be playing the leading trade role.
Guess who is the main producer of soy beans in Brazil, the country that is the world’s second exporter of oilseed behind the United States?, a Brazilian, no an Argentine group.
Mercosur full member Argentina this week is expected to approve the use of genetically-modified soy seeds made by German company Bayer as part of its push to increase farm production, a top Argentine official said on the weekend.
South American grain and oilseed production may be in jeopardy from the formation of a La Niña weather pattern, which might curb rainfall in parts of Brazil and Argentina, Oil World said.