Prospects for soybean and corn crops in Argentina are improving

Experts of the Buenos Aires Grain Exchange increased the forecast of soybean production in Argentina in 2023/24 MR to 52.5 million tons and corn - to 56.5 million tons.

The adjustment of the estimate is due to the sufficient amount of precipitation in the current season, however, the intensity of rains will be important for the further development of soybean crops.

According to the data of the crop tour conducted by the stock exchange experts, as of January 25, corn has been harvested in the country on 10% of the area compared to 16% at this time last year. Almost 51% of corn crops are in good or excellent condition.

Argentina finished harvesting wheat, the actual gross harvest of which amounted to 15.1 million tons, which is in line with experts' forecasts and 25% higher than the previous season.