Exchange of Buenos Aires has lowered the forecast of soybean production in Argentina
In his next report, analysts Grain exchange of Buenos Aires has lowered the forecast of soybean production in Aregntina in the season 2016/17 MG for 4 million tons to 56млн. tons, which is 7.9% lower than in the previous season.
the Main reason for the revision of the forecast gross yield of oilseeds was the deterioration of soybean yield caused by the excessive rainfall observed in most parts of Argentina.
it is Worth noting that in the regions which suffered most from heavy rains, a portion of the soybean crops were completely lost. In other regions, crops may be damaged by 15-30 %. To accurately determine the volume loss of oil is still quite difficult, because in many regions of Argentina still remain unfavorable weather conditions.
yesterday the Ministry of agriculture of Argentina has also reduced its assessment of the Outlook for production in the season 2016/17 MG 3.3 million tonnes to 57.6 million tonnes.