Soybean harvest in Argentina in 2023/24 MY will be a record

Argentine farmers can harvest a record 52 mln tonnes of soybeans in 2023/24 season, which is 32 mln tonnes higher than in 2022/23. This forecast was voiced by the analysts of Rosario Grain Exchange.

According to their estimates, the country will also produce a record corn harvest of 60 mln tonnes (+24 mln tonnes compared to 2022/23 MY).

“Heavy precipitation caused by the El Niño climate phenomenon has a positive impact on plant development, and Argentina has a very good chance of a high yield of major crops,” the experts explained.

At the same time, they do not rule out that production forecasts are likely to continue to rise.

Tags: crop forecast, soybean, Argentina