Wednesday, April 29, 2009

Breaking News-RTRS-Oil World cuts Argentine, Brazil soy crop forecast

HAMBURG, April 28 (Reuters) - Hamburg-based oilseeds analysts Oil World again cut its forecasts for soybean crops in Argentina and Brazil on Tuesday which it said would raise global demand for U.S. supplies.
Argentina's 2009 soybean crop was now forecast at 36.50 million tonnes from 46.7 million tonnes in 2008.
This is down 0.5 million tonnes from its estimate on April 21 and down by 3.5 million tonnes from its April 14 estimate.