BUENOS AIRES, ARGENTINA — Drought has pushed 2020-21 production and export forecasts for Uruguayan soybeans lower, according to an April 5 report from the US Department of Agriculture’s Global Agricultural Information Network (GAIN).
The USDA projects soybean production in Uruguay this season at 2.1 million tonnes, slightly ahead of last year’s drought-stricken crop of 1.9 million tonnes.
A much more optimistic outlook is seen by the USDA for 2021-22 with production expected to increase 47% to 3.1 million tonnes on increased acreage returning to production due to higher prices and a return to trend for yields.
The report said Uruguay is projected to export 1.9 tonnes of soybeans in the current marketing year, just slightly higher than a year ago. Exports are expected to increase along with production in 2021-22 to 2.9 million tonnes, the USDA said.