Last Updated :
22 November 2011 at 12:50 IST
Rain to delay soybean sowing in Argentina, Brazil
NEW YORK (Commodity Online): The forecast of rainfall in Brazil and Argentina is likely to delay the planting of Soybean and other crops.
The rain and thunderstorms over the soybeans,corn and wheat growng areas in Argentina has delayed the sowing of the crops.
According to Sao Paulo-based Somar Meteorologia, soybean areas are forecast to get rain this week delaying the sowing of new crops while turns beneficial for the already planted ones, reported Bloomberg.
The soybean production for Argentina in 2011-12 is estimated to be around 49.5 million tons.
On The Inter Continental Exchange (ICE), the soybean for January delivery traded down 1.7% to $11.48 on Tuesday at 12:20 IST.
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