In some Argentine soybean regions, it rained two days in February more than usual throughout the month. The loss of yield will probably have little impact on the national soybean harvest, according to local observers.
On February 14th and 15th, 150-300 liters of rain per square meter fell in the province of Chaco. Fields were flooded and roads have been impassable there ever since. This hits the farmers concerned hard; It is unlikely to have a major impact on the overall Argentine soybean crop, as Chaco only grows 2-3% of the country's soybeans.
The weather should calm down over the coming days. The soybean harvest begins there in March. According to the Buenos Aires Grains Exchange, the South American country will harvest 53.1 million tons of soybeans by the end of June. The main growing regions are the metropolitan area of Buenos Aires, Santa Fe and Cordoba. Argentina is one of the largest exporters of corn and soybeans worldwide and number one in the export of soybean animal feed.
Source
HANSA Terminhandel
