Soybean crop forecast in Argentina lowered for the fourth time in a row

Published 2023년 3월 6일

Tridge summary

The Buenos Aires Grain Exchange has lowered its forecast for Argentina's soybean production in the 2022/23 marketing year for the fourth time due to drought, dropping the projection from 48 million tons to 33.5 million tons. The drought has also impacted 62.2% of the sown areas for soybeans, and the lack of rainfall is expected to affect corn production, which is now projected at 41 million tons, down from the initial forecast of 50 million tons.

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Original content

Due to the ongoing drought in Argentina, experts from the Buenos Aires Grain Exchange in their report lowered the forecast for soybean production in the country in 2022/23 MY for the fourth time in a row, Reuters reports. At the same time, experts did not specify the size of the reduction. However, the forecast for the oilseed crop, according to the latest estimates, is 33.5 million tons, which is significantly lower than the original forecast of 48 million tons. Also, according to the results of the crop tour, it was found that 62.2% of soybean sown areas are currently affected by ...

Source: Zol