South Africa Grain Information Service (SAGIS) sees a drop in bean acres – fourth in a row for that that country.  Seeded area is expected to drop by 11% while production could hold steady, if there is a reasonable growing season.
South Africa (RSA) can import and resell beans (from China) at prices that free up RSA farmers to plant corn, soybeans, and sunflower. [Editors note:  and presumably be more profitable at that]. 
Meanwhile North America is expecting a sizable jump in acres for 2012 and a concomitant drop in prices.  Not everyone expects pronounced price weakness however. Acres and trend line yields may be just enough to restock the pipelines and keep grower prices up sufficiently to entice growers for the next year 2013.  This early in the season one can hardly predict – with any accuracy – how good the coming year’s harvest or prices will be.

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