While local forecasts of the drought damage to grain harvests are dire enough, they are enough, they are undershooting the impact, according to the United States government’s Agriculture Department. Their latest report predicts a soy harvest of 27 million tons, along with 37 million for maize, as against respective figures of 33 and 40 million tons on March with soy flour and oil exports also down in more or less equivalent proportions. By way of contrasts, estimates of the Brazilian soy harvest have inched up from 153 to 154 milion tons, while giant neighbour has also displaced Argentina as the world’s leading soymeal exporter for the first time in history,
SOURCE: www.batimes.com.ar