BUENOS AIRES, ARGENTINA — Dry weather conditions are expected to impact Argentina’s soybean production during the 2020-21 marketing year, according to a Global Agricultural Information Network (GAIN) report from the US Department of Agriculture (USDA).
The USDA maintains its 17.5 million hectares of soybean planted for the 2020-21 marketing year, but a dip of one million tonnes of soybeans to 50 million tonnes.
The USDA reduced Argentina’s soybean outlook based on dry weather conditions on some early planted soybeans and farmers delayed planting while waiting on rains. Later planted soybeans are anticipated to have slightly lower yields than earlier planted fields.
Argentina’s soybean exports also are forecasted to fall one million tonnes to seven million tonnes for the 2020-21 marketing year. Despite the export decrease, the USDA noted the volume is 4.4% higher than revised projected 2019-20 levels.
The USDA also reduced Argentina’s crush to 41 million tonnes, a 1.5 million tonne decrease. It is a 10.2% increase from the revised projected 2019-20 levels as crushers benefit from new export taxes and resume normal operations following COVID-19 and port worker strikes.