Specialists of the Grain Exchange of Buenos Aires said that next week in Argentina there will be rains, which will have an extremely positive impact on the development of grains and oilseeds – this season the crops have undergone a serious drought.
According to analysts, in the near future in almost all parts of the country precipitation will fall “from moderate to very abundant” – from 10 to 75 mm. At the same time, experts stressed that in some regions there will be almost no rain: in particular, this applies to the eastern part of Buenos Aires and the Province of Chaco.
In addition, the Grain Exchange talks about the upcoming precipitation not only in Argentina, but also in Paraguay and Uruguay, where soybeans are also actively grown.
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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