Argentine farmers sell soybeans at slowest pace in a decade

The Buenos Aires Grain Exchange says the 2024/25 soybean harvest, estimated at 48.6 million tonnes, is 4 percentage points behind the five-year average.

Flooded fields in Argentina due to heavy rains are adding to concerns about soybean losses and sales delays. Argentina is the world’s largest exporter of soybean oil and meal, but farmers are having difficulty getting into waterlogged fields to begin harvesting after heavy rains in March and storms last week. The risk of fungal diseases and mold is increasing by the day, farmers say in the fields.

The grain harvest difficulties have also delayed soybean shipments, with sales on April 2 at the slowest pace in 10 years, with only about 20% of the estimated harvest sold.

Weather forecasts show no improvement for most parts of the country. On Thursday, the Rosario Stock Exchange said rain was likely in the coming days.

Tags: soybean, Argentina