Yesterday, the Rosario Stock Exchange has estimated that 48 million tons of soybean will be produced in the 2012/13 season. There is at least a million tons reduction against previous forecasts. The reason is that during the first week of February, when there was significant lack of water mainly in the central and nothern parts of the country, which includes Buenos Aires, Córdoba, and Salta provinces. In the end of the month, rains have improved conditions in the Chaco province.For corn, the prediction was also diminished by a ton: 25.5 milllion tons.
For the ones who are land renters and soybean producers, the year will be tough. Higher costs are making them lose over US$ 50 per acre. Also, this year might bring new regulations for this kind of farmers.
