Animal feed prices likely to rise
For 2007, American market analysts expect that prices for soybean feed will be higher than any other moment in the past 30 years.
Some predictions go as far as to double the current price of soybeans.
The predicted rise is due to the fact that many American farmers are tempted to grow maize instead of beans, mainly caused by the US government subsidising bio ethanol production.
Decrease
Figures show that the total soybean acreage will decrease by 6.8% in 2007 – maize acreage however will grow by 9.4%.
Possibly also rapeseed and palm oil prices will grow too.
In 1976, when the market showed a somewhat similar tendency, farmers in both Brazil and Argentina decided to grow soybeans.
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