Argentine farmers close gap on average soybean harvest

Improved weather conditions in Argentina have allowed for increased soybean and corn harvests, according to the Buenos Aires Grain Exchange.

 

As of May 6, soybeans have been harvested on 34.3% of the area, which is 5% lower than the 5-year average on this date. The average soybean yield of the first harvest is 3.6 t/ha, and the second - 2.74 t/ha, so the exchange experts leave the soybean production forecast at 48.6 million t.

 

As of May 6, corn has been harvested on 30.1% of the area, and the average yield is now 8.66 t/ha. Corn harvesting has slowed down in recent days, as soybean harvesting is a priority for most farmers. The forecast for the corn harvest by exchange experts is still at 61 million t.

 

Cool weather without precipitation is expected in the next 7-10 days, which will allow for accelerated harvesting of soybeans and corn, as well as the start of sowing of winter wheat.

 

Deliveries of Argentine agricultural products to Asian markets continue to put pressure on prices in the Black Sea region and in the EU, where there is a decrease in meal prices.