Global soybean stocks may fall because of heavy rains in South America

2016-04-21 14:07:15
Global soybean stocks may fall because of heavy rains in South America

Analysts Oil World predict a significant reduction of soybean production in South America due to adverse weather conditions in the region. This, in turn, will lead to a reduction in global soybean stocks by the end of August this year.

 

Excessive rainfall prevented collection of soybean in Argentina. As of April 14, the oil collected only 14 % of planned treatment areas, whereas in the same period of last year was already processed 33 % of the area. The pace of the harvesting campaign in the country were the lowest for the past 10 years.

 

hardest hit by heavy rains in the province of Santa Fe, entre ríos, córdoba and Northern part of the province of Buenos Aires. Current recorded yield losses on an area of 1 million ha and about 0.8 million hectares of crops are at risk.

 

In Ukraine the number of acreage under soybean in 2016 is expected to reach 2 million hectares.

 

over the past 5-7 years, sown area under soybean showed a tendency to increase every year on 250 hectares In the current season tendency to increase in the area planted no, due to the low prices of soybeans on the world markets and last year's poor harvest due to drought. Perhaps the increase in world prices for soybeans encourages the growth of sowing areas under this crop in Ukraine.