Hopes are growing for Argentina’s soybean crop.
The US Department of Agriculture’s Buenos Aires bureau, in a briefing published overnight, pegged the 2019-20 harvest at 54.1m tonnes, up 1.1m tonnes from its December forecast.
That is the latest in a series of upgrades, from the likes of Dr Michael Cordonnier and the Buenos Aires grains exchange, as highlighted in Agrimoney’s Live table for Argentine soybeans 2019-20.
The USDA bureau flagged that “climatic conditions were positive across Argentina with rains in January and early February, providing adequate soil moisture across practically the entire growing region”.
It flagged the potential for a “slightly-above-average yield” overall, although seeing better prospects for first crop soybeans in more northerly growing areas, where harvest is approaching, rather than second crop soybeans further south, which have encountered some dryness.
A dearth of rainfall looks the trend for now – also to greater benefit of northern crops.
Weather service Radiant Solutions forecast that for now “dry weather should favour drydown in central and northern areas, but some limited stress will be likely on late growth in southern areas”.
Other Live tables updated include: