Argentine Grain Exchange raises soybean supply forecast by 100 thsd tons

On Thursday, Argentina’s Buenos Aires Grain Exchange raised its soybean harvest forecast for the 2025/26 season by 100,000 tonnes, citing higher-than-expected yields despite a reduction in the projected planting area.

The exchange forecasts the harvest to reach 48.6 million tonnes, up from its previously forecast of 48.5 million tonnes.

The exchange reported that improved rainfall since mid-February in the key production regions of Buenos Aires and Cordoba has led to higher-than-expected soybean yields.

The exchange raised its harvest forecast despite reducing its planting area estimate by 400,000 hectares to 17.2 million hectares.

Producers harvested 10.2% of the soybean area.

Recent rains have delayed the corn harvest, which is 26.5% complete, with production estimated at a record 61 million tonnes.

Argentina is the world’s largest exporter of soybean oil and soybean meal, and the third-largest exporter of unprocessed soybeans.

The Buenos Aires Grain Exchange forecasts a 3% reduction in Argentina’s 2026/27 wheat harvest to approximately 6.5 million hectares, or approximately 16.1 million acres. The supply squeeze, amid signs of excessive drought in US winter wheat growing areas, is having a positive impact on CBOT wheat futures. News of Argentina’s crop acreage decline came after the U.S. Department of Agriculture maintained its forecast for production of 27.9 million metric tons in 2025/26—more than 50% higher than the previous year, according to the USDA’s WASDE report released earlier this month. Today, wheat rose 1.5%, corn rose 0.1%, and soybeans rose 0.5% on the CBOT.

Tags: export, soybean, Argentina