Illegal spraying of a volatile weedkiller may be the cause of unprecedented damage to crops earlier this year, especially for soybean farmers in Arkansas.
The world can’t seem to get its fill of soybeans. Exports from the U.S. and Brazil, the world’s largest growers, are the highest ever for this time of year, and demand is poised to eclipse earlier government forecasts for a record this season.
The Argentine government is stepping into a battle between farmers and Monsanto over royalties for genetically modified soybeans. Grain handlers would be barred from collecting royalties after the harvest on behalf of seed developers.
Argentina’s farmers, who are harvesting a record soybean crop, would have to boost storage investments if torrential rain forecast for the second half of the year materializes. El Nino is always bad news for Argentine farmers as it causes drought in some areas will and heavier rain in other areas, requiring more protection for stored crops.
Soybeans fell for the first time in three sessions after forecasts for rain in South America eased concern that developing crops would be hurt by hot, dry weather.
Soybeans rose in Chicago as speculation China is buying U.S. supplies boosted optimism the biggest importer will sustain purchases amid a bird-flu outbreak.
