Argentina agrarians can harvest only 36 million tons of soybeans in the current season, which is significantly inferior to the final result of 2021/22 MY and the USDA estimate of 9.5 million tons. Such a forecast in their new report was published by analysts of the foreign agricultural service of the US Department of Agriculture (FAS USDA).
“Drought and high temperatures in the final months of 2022 have taken a toll on Argentine soybeans. Beans within a radius of 125 kilometers from Rosario were particularly affected, “the materials say.
According to experts, the recent rains in many regions of the country have had a positive impact on the development of oilseed crops, but the further dynamics of plant recovery will depend on the February weather.
Argentina’s gross harvest in the 2022/23 season could be one of the lowest in 15 years. The Rosario Grain Exchange estimates that South American oilseed production is 37 million tonnes, more than 6 million tonnes below last season’s level. At the same time, experts do not exclude further downward adjustments.
Argentina is the world’s largest exporter of soybean oil and meal, as well as one of the key suppliers of soybeans to foreign markets.
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