Buenos Aires | Reuters –– The company that led the breakneck expansion of Argentine soy cultivation over the last two decades has quietly reduced the area it farms by more than half as inflation, trade restrictions and high taxes drain growers’ profits. Los Grobo, once known as the South American country’s “King of Soy” has […] Read more
Argentina’s ‘Soy King’ abdicates in favor of biotech
Brazil says key soy road won’t be paved until 2016
Brasilia | Reuters –– An important road for soy and corn shipments linking to ports in northern Brazil will not be paved until 2016, the country’s transport minister said on Tuesday. President Dilma Rousseff said last year that the highway, known as BR-163, would be ready by mid-2015 as the government tries to relieve crowded […] Read more
Argentina denounces farmer soy hoarding, says hurts state income
Buenos Aires | Reuters — Argentine growers hoarding soybeans to protect themselves from inflation are hurting both state and farm income in the world’s No. 3 exporter of the oilseed, a top government official said Thursday. The South American country pioneered the use of plastic horizontal silos to stockpile grains. Growers are hanging onto soybeans, […] Read more
Monsanto profit falls, less sharply than Street expected
Reuters — Monsanto on Wednesday reported a 34 per cent drop in quarterly profit, in part because of lower planted corn acreage in South America and a shift in timing of some sales, but the decline was less steep than analysts expected. Shares of the world’s largest seed company, which is known for its genetically […] Read more
China approves Viptera corn, two types of soybeans
Chicago | Reuters –– A top Chinese government official said the country has approved imports of genetically modified Agrisure Viptera corn and two varieties of biotech soybeans after years of review, U.S. Agriculture Secretary Tom Vilsack said Wednesday. Chinese Vice-Premier Wang Yang said imports of Viptera corn, known as MIR 162, had been approved by […] Read more
Argentine state bank to cut off farmers who hoard soy
Buenos Aires | Reuters — Argentina’s main state bank will deny credit to farmers who are holding onto soybeans as a hedge against inflation, a top official said on Friday, as the government cracks down on crop hoarding as part of a campaign to build up its dollar reserves. The grains-rich but cash-poor South American […] Read more
Dry spell to create ideal conditions for Argentine grains
Buenos Aires | Reuters — Heavy rains during the weekend will be followed by a dry spell across much of Argentina’s grains belt, creating ideal growing conditions for the 2014-15 corn and soy crop, a local meteorologist said on Monday. German Heinzenknecht, meteorologist with the (CCA) Applied Climatology Consultancy, said about 50 millimetres fell across […] Read more
Ontario’s curbs on neonics may protect bees but diminish crops
Winnipeg | Reuters –– Ontario’s move to protect bees by reducing use of a pesticide seed treatment may diminish corn and soybean production, seed companies said on Wednesday. Beekeepers welcomed the move by Ontario, the first North American government to curb use of seed treated with neonicotinoids, which are used to kill insects that harm […] Read more
Grain ‘trade’ at risk of low-balling U.S. soybean yields: Maguire
Chicago / Reuters – At 47.1 bushels an acre, last month’s soybean yield estimate from the U.S. Department of Agriculture was a new all-time high. And the average trader estimate for the USDA’s November projection is higher still, at 47.608 bushels. Even so, the long-term relationship between corn and soybeans suggests current soybean yields remain relatively […] Read more
Market analyst warns soybeans could hit $7.00
Commodity News Service Canada – A surge in soybean values at a time when supplies are at a record level shouldn’t be mistaken for a breakdown in fundamental factors affecting supply and demand, according to the chief economist for AgResource. “The soybean market has gone up 12 to 13 per cent in the last 30 […] Read more
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