drought

Soybean Crop in Argentina Threatened by Drought

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Drought in Argentina threatens the prospect of a high soybean harvest in the country next year.

Last weekend, less rain fell in some regions than expected – this negatively affects the development of soybean crops in most parts of the country. Now all the attention of South American agricultural producers is riveted to the rains, which forecasters predict next Saturday and Sunday.

“The rain expected this weekend will be extremely important,” comments one industry expert.

However, next week, precipitation in the country, which could reduce the drought and improve conditions for the development of soybeans and corn, is no longer predicted. Experts believe that the lack of rains will slow down the pace of the sowing campaign by 10-15%.”

Recall that according to experts of the Grain Exchange of Buenos Aires, the gross harvest of South American oilseeds last season amounted to about 43.3 million tons against 46 million tons a year earlier. The average yield was at the level of 2.79 t/ha – one of the lowest results for the country in the last 5 years.

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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