Soybean harvest hits central Argentina, yields variable: BAGE

Argentina's soybean harvest is now underway in the central area with early results showing highly variable yields caused by...

Argentina’s soybean harvest is now underway in the central area with early results showing highly variable yields caused by irregular and uneven rains during the growth cycle, the Buenos Aires Grains Exchange (BAGE) said Thursday.

The exchange kept its output estimate for the world’s third largest producer unchanged at 44 million mt, adding that it will be able to confirm that number as the harvest picks up pace in the coming weeks.

At the same time, rainfall in the north improved the moisture conditions there which is expected to have a positive impact on yields for plots sown at the end.

Meanwhile, corn harvesting continued in central and southern Argentina with 7% harvested so far, up just 1.1 percentage points on the week.

“The rains registered during March improve the water reserves of the late plots, but delayed the harvest of the early plots,” BAGE said.

The exchange kept its estimate flat at 45 million mt, down from last year’s record output of 51.5 million mt.

The harvest of sunseed, meanwhile, reached 74% up 9 points on the week and slightly ahead of the year despite being slowed down by recent rains.

“Rainfall records in recent weeks slowed the rate of harvesting, but it is expected that in the next few days the passage of the storm front will culminate, and work will resume,” the exchange said.

National yields averaged at 2.14 mt/ha as better results in the North of La Pampa-West of Buenos Aires offset losses in southern areas, with the output estimate held at 2.7 million mt.

What to read next
Vietnam is poised for a significant uplift in corn imports for the 2024-25 marketing year, driven by the resurging demand within its aquaculture and livestock sectors
Argentina's corn and sunflower crop forecasts have been downgraded due to recent weather challenges, according to the latest BAGE report
Brazil's agricultural exports soared in the first week of March, which underscores the country's pivotal role in global food supply
The future of the US ethanol sector lies in sustainable aviation fuel, with a string of industry voices laying out expectations that the sector’s future growth and expansion will increasingly be entwined with efforts to decarbonize aviation during the National Ethanol Conference in San Diego
Chinese buyers are showing strong demand for barley and corn, with significant purchases from France, Australia, and Ukraine
Brazil's food agency, Conab, has reduced its soybean and corn output forecasts due to adverse weather conditions impacting crop development,