Source: Oleoscope (Russia)
The Buenos Aires Grain Exchange has announced that the 2024/25 soybean crop, projected at 48.6 million tons, is progressing 4 percentage points more slowly than the average rate observed over the past five years.
Ongoing flooding in Argentina has heightened concerns about potential losses to soybeans and postponed sales. Although Argentina leads the world in exports of soybean oil and meal, producers are struggling to access their fields, which remain saturated after the March downpours and last week’s storms. According to those working the land, the likelihood of mold and fungal diseases is climbing each day.
Harvesting problems have led to setbacks in delivering soybeans as well, resulting in the lowest sales pace in a decade as of April 2, with only about one-fifth of the expected production having been sold.
Weather outlooks predict continued unfavorable conditions across much of the nation. Reuters reported on Thursday that the Rosario exchange anticipates more rainfall in the days ahead.