Yields of soybeans and corn in Argentina and Brazil can become a record
In the final stage of development of the Argentine corn and soy come in perfect weather conditions. After the January floods in some regions and droughts in other conditions have stabilized. Last week was favorable and precipitation, and air temperature. If such conditions will persist in the future, Argentina will harvest a record crop of soybeans and corn.
experts of the Grain exchange Buenos Aires believe that the soybean crop will exceed all previous projections and will amount of 54.8 million.
In Brazil, the weather conditions remain favourable for sowing grain, in contrast to previous years when the harvest suffered due to the harsh weather conditions.
the corn Crop may exceed last year's by 21 million tons, soybeans by 10 million tons, a record breaking values. The total grain harvest may be a record, reaching 220 million.
Farmers are preparing for the abundant harvests and the purchase of equipment and machinery. In January, sales of agricultural machinery increased in comparison with January of last year by 75%.
the Revival of exports of South American soybeans puts pressure on the price of oilseeds in the US and on the quotation of soybean and sunflower oil. Soon these markets will be in a bearish trend.