Argentina’s soybean production in MY 2023/24 will be 49.6 million tons – forecast
Soybean planted area for the 2023/24 season in Argentina totaled 17.2 million hectares, up from the 16.8 million hectares that Safras & Mercado indicated in its first estimate in August 2023.
Analysts forecast national production at 49.6 million tons, higher than the 48.50 million tons projected in August 2023.
Safras & Mercado analyst Bruno Todone explained that the adjustment in occurred thanks to a very good start to the campaign, which encouraged producers to move forward with a larger area than originally estimated.
Thus, about 400 thousand hectares of planted area have been added, which in percentage terms shows an increase of about 3% compared to the previous estimate.
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