The pace of the soybean planting campaign in Argentina is much slower than last year. As of December 14, fieldwork took place on an area of 50.8% of the plan against 65% compared to the same period in 2021.
Experts of the Grain Exchange of Buenos Aires note that even the precipitation that has taken place in the country in recent days has not been able to accelerate the pace of oilseed sowing.
“The greater the backlog in fieldwork, the smaller the oilseed crop may be,” experts say.
Argentine farmers expect to allocate 16.7 million hectares for soybeans this season, but the weather may make adjustments to farmers’ plans. Thus, in the near future, the temperature in the country will rise to 27-30°C, which, against the backdrop of a lack of precipitation, will worsen the condition of crops.
Recall that, according to the results of 2021/22 MY, farmers harvested about 43.3 million tons of soybeans from an area of over 15.5 million hectares. The average yield was at the level of 2.79 t/ha – one of the lowest results for the country over the past 5 years.
Argentina is the world’s largest exporter of soybean oil and meal, and one of the key suppliers of soybeans to foreign markets.
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