Soy production: Argentina no longer among the top 3 exporters

03/15/2023 | 16:18:00 | ID: 35775 | Department: Agriculture | agricultural economics Berlin (agrar-PR) - The country's yield forecast has again been sharply reduced, thus also depressing consumption and export estimates. In its latest report for 2022/23, the US Department of Agriculture USDA expects a global soybean harvest of 375 million tons. That would be almost 8 million t less than expected in the previous month, but 17 million t more than 2021/22. The reduction in the estimate compared to February is mainly due to the drastically reduced forecast for Argentine production. The country has been struggling with the persistent drought and heat for several weeks, which further reduces the yield prospects. In Argentina, for example, only around 33 million tons of soybeans are likely to be harvested, 8 million tons or almost a fifth less than expected in February. For other important producing countries such as Brazil, the USA or India, the ministry is sticking to the forecast from ...