Heavy rains in Argentina favor soybean crop

The expected soybean harvest in Argentina’s agricultural center is growing thanks to heavy rains in recent days, the Buenos Aires Grain Exchange said on Thursday, also noting that crops in northern farmland still need irrigation.

Argentina is the world’s leading exporter of processed soybeans. The current harvest is expected to reach 49.6 million metric tons, according to the latest forecast.

“In the production centers, rains in February and early March helped to fill early season soybeans, which had a positive impact on yields,” the exchange said in its weekly crop report.

Regarding the 2024/25 corn crop, the exchange noted that the precipitation in recent weeks has improved the condition of crops in the provinces of Cordoba and Buenos Aires, but also led to flooding of some fields in the central and southern part of Buenos Aires.

According to the exchange, farmers in the world’s third largest corn exporting country have harvested about 8% of the crop, which is expected to reach about 49 million tons.

Tags: crop forecast, soybean, Argentina