Rosario Grain Exchange's first estimate for Argentina's soybean harvest

Argentina's grain exchange in Rosario estimates the soybean harvests for the 2020/21 season at 50 million tons. The cultivation area has probably been expanded by 0.6% to 17.3 million hectares. Last year the harvest was bigger at 50.7 million tons with a smaller cultivation area.
The stock exchange now estimates wheat production in the country at 18 million tons. That is the lower end of the previous forecasts, which were 18-19 million tons. In the last 14 days it had hardly rained, but there were frosts. This reduces the expectation of high yields.
Argentina is the most important soybean oil and soybean meal exporter in the world and also a major supplier of wheat on the world market.
The higher world market prices for maize could induce the farmers there in South America to grow more of this coarse grain, even if the effects of climate change do not speak in favor of expanding maize cultivation.

Hansa Terminhandel GmbH
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