Argentina’s soybean acreage expected to expand by 7.8%

Argentina’s Secretariat of Agriculture, Livestock and Fisheries (SagyP) forecasts that the country’s soybean acreage in MY 2024/25 will increase to 17.8 million hectares, up 7.8% from the previous season’s levels (16.6 million hectares), Fastmarkets reports.

The expected figure is the highest planted area for soybeans in Argentina in the last 6 years. The increase is due to improved soil moisture levels and an anticipated reduction in corn acreage.

The pace of soybean planting in Argentina has accelerated following the rainfall recorded in recent weeks, while in regions where rainfall has been less favorable, farmers are waiting for precipitation to continue planting. At this time, the country has sown 36% of the planned area (+3% per week).

The USDA’s Foreign Agricultural Service (FAS) previously projected that the country would produce a record 52 million tons of soybeans, but the industry will face a number of difficult challenges due to weather conditions, economic pressures, and production practices.

Tags: soybean, Argentina, sown area