Argentina’s Soy Crop Still Big

Argentina’s Soy Crop Still Big

 

Despite adverse weather, the Buenos Aires Cereals Exchange estimates that Argentina’s soy crop will be up about 25% from last year to a near record 50 million metric tons.  Argentina’s largest soy crop was 52.7 million metric tons in 2009-10. Planting is complete and harvest is planned to begin in March.  Worries about recent dry weather in Argentina have driven up the price of soy, and storms that were forecast to bring relief have not materialized.  The Buenos Aires Cereals Exchange has also estimated corn acreage to be 3.7 million hectares, up from an initial estimate of 3.4 million hectares with a yield between 26-28 million tons.

 

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