This season promises to produce a record crop in the South American soy belt, according to The Wall Street Journal.
Brazil, the largest soybean producer globally after the United States, is expected to top its 2007-2008 record of 60 million metric tons by another 7.5 million metric tons. Argentina’s soy harvest is estimated at 53 million tons, compared with the previous record of 48.8 million tons. Paraguay’s projected harvest is 7.2 million tons, more than double last year’s numbers.
The three Latin American countries are the world’s largest soybean exporters after the United States, but the huge harvest could be more than the countries’ infrastructure can handle, The Wall Street Journal reported.