Rains Dampen Argentina’s Soybean Outlook

Rains Dampen Argentina’s Soybean Outlook

on February 19 | in Ag News | by | with No Comments

Despite heavy rains from late December through the middle of January, most of Argentina’s soybeans are in decent shape.

The USDA offered an update of Argentina’s outlook in its Feb. 9 World Agricultural Production report.

The agency noted that flooding in 2016/17 led to more field losses in the core growing regions compared to 2015/16 due to excessive wetness, more frequent showers and a longer duration of the flood events.

Still, 80% of Argentine soybeans are favourable, according to the report.

Argentina is forecast to bring in 55.5 million metric tons of soybeans for the 2016/17 season, 3% less than last month and 2% less than last year.

Area is at an estimated 19 million hectares, down 2% from last month.

The USDA said rains continue to replenish soil moisture in southern Buenos Aires province where drought was prevalent earlier.

Planting is finished with over 43% of the crop in flowering to early pod set. Forty-seven per cent of the crop is developing pods.

First-crop soybeans account for 80% of Argentine soybeans. Second-crop soybeans, which are planted after wheat is harvested, account for the remainder.

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