Both the Buenos Aires Grains Exchange and Rosario Stock Exchange this week cut their estimates for Argentina’s 2019-20 soybean crop based on poor rainfall.
Buenos Aires Grains Exchange dropped its estimate from 54.5m tonnes to 52m tonnes and the Rosario Stock Exchange changed its forecast from 55m tonnes to 51.5m tonnes.
While February saw some excellent rain in some regions in the north of the country, this was not felt in some soybean-growing regions. According to Buenos Aires Grains Exchange, this particularly evident in key areas like Córdoba and Santa Fe.
Argentina is the world’s third biggest soybean producer and exporter, and the world’s number one soybean meal supplier. For more estimates on its 2019-20 soybean crop, please head here. For 2018-19 estimates head here.
Other live tables updated today: