Argentinian Traders Are Expecting the Lowest Soybean Crop of Last Five Years Due to Drought

Argentina, one of the world’s largest exporters of soybeans, is experiencing the most severe drought in recent years, which has delayed planting and reduced soil fertility, leading to serious crop failures. Fortunately, some soybean growing areas received rain in late W52, and according to meteorology, forecasted more rain within January. However, many exporters are expecting the lowest crop/volume of the last five years, though sowing has not been completed. Planting should start in January and continue through the end of February, while harvest begins in late April and ends in June.