Argentina’s soybean crop for the 2024/25 season is reported to be in excellent condition following beneficial rainfall across the country’s primary farming regions in recent weeks, according to the Buenos Aires grains exchange.
Key Highlights:
Moisture Levels:
The exchange’s weekly crop report indicates that 98% of the soybean-planted area now has adequate to optimal moisture levels, which is crucial for healthy crop development.
Soybean Planting Progress:
Farmers have planted 44.4% of the projected 18.6 million hectares (approximately 46 million acres) designated for soybeans, marking an increase of 8.6 percentage points in just the past week.
Argentina is recognized as the world’s leading exporter of soybean oil and meal.
Corn Crop Update:
The report also highlighted that the recent rains have positively impacted the 2024/25 corn crop, with nearly 97% of early plantings reported to be in normal or excellent condition.
As of now, Argentine farmers have planted 41.3% of the 6.3 million hectares forecasted for corn this season.
Wheat Harvest:
Additionally, the exchange noted that 38.7% of the wheat for the 2024/25 campaign has already been harvested, with an estimated production of 18.6 million tonnes.
Argentina ranks as the world’s third-largest exporter of corn and is a significant global supplier of wheat.