Source: APKinform (Ukraine)
The Buenos Aires Grain Exchange has revised its estimate for Argentina’s soybean harvest for the 2024/25 marketing year, decreasing it by 1 million tons to 48.6 million tons from earlier projections. This revision is primarily due to the effects of drought on oilseed agriculture in the northeastern part of the country.
According to the report, “Prolonged water shortages and elevated air temperatures resulted in heat and water stress, significantly impacting the northeastern regions of Argentina. These adverse conditions have notably affected plant density and reproductive growth, leading to a 22% reduction in yield potential.”
It has been highlighted that drought adversely influenced around 10% of soybean crops, equating to approximately 1.86 million hectares.
Furthermore, the exchange’s analysts pointed out that, although dry weather conditions negatively affected corn crops, resulting in a projected yield drop of 40% compared to earlier predictions, the area planted with corn increased by 7.6% year-on-year, reaching 7.1 million hectares. This rise in sown area has helped to offset the yield decline. Consequently, experts have maintained their production forecast for Argentine corn at 49 million tons.