Buenos Aires Exchange cuts Argentina’s soybean crop again

The Buenos Aires Cereals Exchange cut its projection for Argentina’s soybean crop from 29 to 25 mln tons. The new reduction reflects the unfavorable climate for cultivation, combining the absence of rain in the central region of the growing belt, late frosts, and very high temperatures.

In comparison with last year, when 43.3 mln tons were reaped, the crop failure would reach 42.2%.

Dry weather and high temperatures continue to generate yield losses in much of the agricultural zone, the report said. Collaborators report pod abortion, expected yield below historical lows, and total loss of the harvest, with the center-east of Entre Ríos being the most affected region.

With regard to trading, according to the weekly report by Argentina’s Ministry of Agroindustry, released on March 8, the sales of the 2022/23 soybean crop in the country amount to 4.616 mln tons. In the year-ago comparative period, sales amounted to 9.778 mln tons.

For the 2021/22 season, 36.180 mln tons were sold. In the same period last season, the total cumulative volume was 39.993 mln tons.

Tags: projection, Buenos Aires Cereals Exchange, harvest, soybean, crop, yield, Argentina