Argentina is expected to trim the quantity of 2012/2013 wheat destined for overseas shipment to 4.5 million tons from a previous 6 million due to a smaller than forecast harvest, a local newspaper reported on Saturday.
Argentina's government cut this season's wheat output forecast, citing three months of heavy rains that started in August and flooded key parts of the Pampas farm belt, the Agriculture Ministry said on Thursday.
Global wheat prices climbed on Friday as Russia’s economy minister raised the possibility of grain export curbs from one of the largest global suppliers in what appeared to be a policy u-turn.
The World Bank on Monday said it stood ready to help governments respond to a broad-based run-up in grain prices that has again put the world’s poorest people at risk and could have lingering detrimental impacts for years.
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.
Argentina's government authorized this week the export of 6 million tons of 2012/13 wheat as farmers advance with early plantings, officials said.
Soybeans are set to establish several records this year in Uruguay: exports will be above one billion dollars; for the first time the oilseed will be the leading export item of the country displacing beef and prospects for the next season are that over a million hectares will be planted.
FAO forecasts that 2012 world wheat production will be the second highest on record at 690 million tonnes. According to FAO quarterly Crop prospects and food situation report forecast a 2012 wheat crop 10 million tons or 1.4% down from the record 2011 harvest but still well above the average of the past five years.
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.
Paraguay’s wheat exports have doubled in 2011 compared to the previous year and has increased 33 fold in the last decade, and this has been based on a government-private effort of investing in scientific research and technology.