Soybeans Rise for Third Day on Concern About Brazilian, Argentine Sowing

by Dave

Bloomberg

Soy prices are progressing significantly, boosted by weather conditions in Argentina and Brazil,” Paris-based farm adviser Agritel said on its website today. “Mato Grosso lacks water and planting is being delayed, and a return of the rains will be necessary for correct germination of the crops.” Brazil is the world’s second-largest grower of soybeans after the U.S., and Argentina ranks third.

The corn harvest in India, Asia’s second-biggest grower, may exceed 20 million metric tons in the year to June 2011, beating the 19.73 million-ton record in 2009 and increasing exports, after above-normal rains aided crops, Atul Chaturvedi, president of Adani Enterprises Ltd., said yesterday. Adani is the country’s biggest non-state trader of farm goods.

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