Argentina sees more soybeans this year

Published 2024년 12월 26일

Tridge summary

Argentina is shifting its agricultural focus due to dry conditions impacting corn production, with a notable increase in soybean production. As the largest corn competitor and the second-largest soybean producer in the world, this shift could significantly affect market dynamics and prices. Researcher Joana Colussi highlights the challenges Argentine producers face in selecting the best soybean seeds without the benefit of rotating growing seasons, a situation that is generating interest in the global soy industry. This change in production patterns is expected to influence soy oil and soy meal markets, particularly in the U.S., as Argentina traditionally relies more on crushing soybeans for these products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

We watch what happens with our neighbours in South America regarding crop production and its effects on our markets. Brazil is the largest soybean producer and exporter in the world, and Argentina is one of our largest corn competitors. Their production capabilities allow them to have a much larger effect on the marketplace and our prices. However, this year, we are seeing a little bit of a shift in what is happening in Argentina. As mentioned before, they are a perennial competitor with corn. Their last couple of growing seasons have been marred by dry conditions seriously hindering their production. That is partly why we are starting to see the Argentinians ramping up more soybean production. Joana Colussi is an Argentine native and is an Ag economy researcher. She talks about the growth we are seeing the country make in its soybean production, and it is significant. Remember that when it comes to the soybean industry, Argentina has been primarily known for its crush capacity ...

Source: UkrAgroConsult