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Decline of Crops Could Boost US Sales

09 January 2012

US - Analysts expect little change in stocks of US soybeans when the Department of Agriculture (USDA) issues its report next week on January harvests, while dry weather could cut crop forecasts for South America.

This reduction would restrict the supply of soybeans in the world and could eventually boost exports of US soybeans, especially in the upcoming 2012/13 season, reports America Economia.

The crops in Argentina and southern Brazil have had problems due to the hot and dry weather of recent weeks, although most of the plants have not yet reached the stage of setting pods, which is key to growth.

Brazil is projected to surpass US as the largest exporter of soybeans in the 2011/12 period. Argentina is in third place.

The average estimate from 14 analysts for the soybean crop in Argentina in the period 2011/12 was 50.844 million tons. The USDA December estimate is 52.0 million.

For Brazil, the average estimate of soybean production was 73.8 million tonnes, below the December figure of 75.0 million from the USDA.

TheCropSite News Desk

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