High Argentine soy crop in spring 2015

Argentina soybean crop 2014/15 to 4% rise. - larger acreage-

US agricultural Envoy in Argentina is estimated that coming soybean harvest in spring 2015 to about 57 million tonnes (last year 54 million tonnes) Argentine farmers start delay with sowing now in October at. The reason is the high inflation rate, which so far has led farmers to sell their old crops to relatively high prices to finance the seed and fertilizer costs directly with the proceeds of the sale as late as possible. The average inflation rate is 18 to 23%.

Despite the meantime falling prices, soybean markets attractiveremains because the fertilizer for the legume significantly lower costs. According to the preliminary estimates should be sown on about 21 million hectares of beans . A crop of 57 million tonnes is estimated at a subordinate of average yield of 2.7 tonnes per hectare . However, the differences in the country are quite large. The transport costs play a significant role for the sowing areas up to the port of export in distant areas.

Argentine farmers pay more attention to the development of the exchange rates to the dollar, as well as the customs policy of the bankrupt State. In the past, export tariffs have financed up to 40% of the Argentine Government spending on agricultural products. Countermeasures of Argentine farmers were frequent strikes and export boycott.

The delayed sales readiness of old crop leading to a initial stock, with 12.5 million tonnes makes up almost a quarter of the crop in the spring of 2014. Millers work with load of 55-60%. Processing supplies range often only between 15 and 20 days. 

Experience has shown that processed only 10 million tonnes of soybeans exported directly and approximately 42 million tons in the country. The extracted soybean oil is exported and processed in part to bio-diesel. Earlier exports of bio-diesel in Europe has been gone back again significantly following the introduction of EU import tariff. Soybean meal is mainly in the export with focus on Europe.

The domestic consumption remains comparatively low. It is assumed that the sluggish sales behavior, also in other future periods. However, the low and possibly falling price will cause that exports are handled somewhat faster than in the past.

Soy prices in Argentina are due to large transport costs among the lowest at world level. FOB Buenos Aires soybeans cost $377 per t while in the Gulf of Mexico U.S. soybeans at $406 the t record. Brazilian soya beans from export port of Paranagua cost $403 per t.

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