In any case, the Buenos Aires Grain Exchange increased its area forecast for corn for the same season, to 6.6 million hectares.
The BBuenos Aires Cereal Board (BdeC) this Friday reduced its area estimate for Argentine soybeans 2024/25 to 18.4 million hectares, while it increased its area forecast for corn for the same season, to 6.6 million hectares.
The changes represent a reduction of 200,000 hectares in the calculation of the 24/25 soybean area and an increase of 300,000 hectares in the forecast for the cereal, Reuters reported.
According to the BdeC, the modifications are due to a drop in the profitability of soybeans due to lower prices. Soybeans and corn compete for area in Argentina, which is the world’s largest exporter of soybean oil and meal, and the third largest exporter of the cereal.
field harvest soybeans retentions sowing
Depositphotos
“An adjustment has been made to the projected (soybean) area (…) as a consequence of tight margins that have favored the choice of alternative crops,” explained the Stock Exchange.
For the moment, the rural men have sown the 84.6% of the area planned for soybeans and 80.9% of the area calculated for corn, according to the entity’s weekly crop report.
Regarding wheat 2024/25, The Stock Exchange said that 88.5% of the estimated area for cereal has been harvested, with an estimated production of 18.6 million tons.
Source: Ambito
