World Perspectives
soy-oilseeds

Oilseed Highlights: Argentina’s Soy Crop and Seed Issue; U.S. Biodiesel Tariffs; Canadian Plantings; Parana Harvest

Rosario Exchange Sharply Reduces Argentine Soybean Estimate Yesterday the Rosario Grain Exchange reduced its estimate of the Argentine soybean crop from 52 MMT to 46.5 MMT, which follows a spokesperson’s announcement last week that it was likely to do so. This is about the lowest of any forecaster thus far and is evidence that the crop has been badly affected by the three-month drought. Today the Buenos Aires Grains Exchange cut its projection from 50 MMT to 47 MMT. The crop is likely to be even smaller than these two forecasts, particularly if there is no widespread, significant rainfall in the next two to three weeks. While the big cut in Argentina’s crop is impacting the global price of soybeans and soymeal, it should be no...

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