The soybean crop by 2015/16 now well is progressing in Argentina after it was dry in the past few weeks. Buenos Aires grains Exchange reported that yesterday. In April, at the beginning of the main crop, had three weeks-long heavy rainfall impossible field work in 50% of the regions and causes widespread crop damage. Then the soybean prices had risen strongly and there are fears that supply shortages occur in the following marketing period.
Argentina is the world's largest exporter of soybean oil and soybean meal, and the third largest exporter of soy beans.
According to the stock exchange, storms and heavy rain have caused the loss of 1.65 million hectares of soybeans acreage in half of all regions. Still, the stock market analysts keep a total crop of 56 million tons of soybeans, as in their last estimate possible. Regions where the rainfall caused no harm, such as Buenos Aires and La pampas, brought record revenues.
Until Thursday, the local farmers harvested 72.1% of 20.1 million hectares of soybeans. Last week, 11% of the area harvested so, one is still 18.2% behind the previous year progress back. Last week it said analyst circles that 25% of soybeans were lost.
Last, however, slow progress of the current corn crop in Argentina was because farmers concentrate on the soya bean harvest and wet soils make the work difficult.
Argentina is also the world's fourth-largest corn exporter and should harvest this year 25 million tonnes of corn, so the stock market. So far, 29.1% of corn were harvested.
The sowing of wheat for the 2016/17 season has just begun to 3.9% of planned 4.5 million hectares of land.
