Buenos Aires Grain Exchange may cut Argentina's soybean production forecast
Buenos Aires Grain Exchange may cut soybean production forecast in Argentina
(Agricultural Wealth Network) The Buenos Aires Grain Exchange in Argentina stated at the Argentine Agricultural and Industrial Conference that due to drought in some parts of Argentina, this year's soybean planting area may be lower than the earlier forecast of 19 million hectares.
The exchange said we may maintain the forecast in the report to be released on November 11, but the drought conditions over the next fifteen days will be closely watched. If conditions do not improve, the planting area figure may be revised downward.
Last week the Buenos Aires Grain Exchange in Argentina projected the soybean planting area at 19 million hectares, which would be a record high.
Argentine farmers usually begin planting soybeans in September and begin harvesting in February of the following year. In 2009, soybeans were severely damaged by a drought unseen in a century, with output of only 32 million tons.
The weather is dry in La Pampa Province and Cordoba Province, and Santa Fe Province and Buenos Aires Province are also dry. The current situation is more serious than earlier expected.
The exchange said we may maintain the forecast in the report to be released on November 11, but the drought conditions over the next fifteen days will be closely watched. If conditions do not improve, the planting area figure may be revised downward.
Last week the Buenos Aires Grain Exchange in Argentina projected the soybean planting area at 19 million hectares, which would be a record high.
Argentine farmers usually begin planting soybeans in September and begin harvesting in February of the following year. In 2009, soybeans were severely damaged by a drought unseen in a century, with output of only 32 million tons.
The weather is dry in La Pampa Province and Cordoba Province, and Santa Fe Province and Buenos Aires Province are also dry. The current situation is more serious than earlier expected.