Dollar alert for reserves: soybean harvest estimate cut due to low yields

Dollar alert for reserves: soybean harvest estimate cut due to low yields

The Argentina’s 2023/24 soybean harvest would be 50.5 million tons, 500,000 tons less than previously estimated, due to lower yields than expected in the north of the country, the Buenos Aires Grain Exchange (BdeC) indicated this Thursday in its weekly crop report.

The northern Argentine provinces have “suffered the impact of high temperatures and lack of precipitation during the month of March, compromising the performance components. Particularly, over the north of Santiago del Estero and Chaco,” said the Stock Market.

Until Wednesday, Argentine producers They had harvested 63.7% of the area planted with soybeans in the country.

With respect to corn 2023/24, the BdeC reported that the cereal harvest progressed slowly in the last week since the field is waiting for the moisture level in the grains to decrease.

Argentina’s corn harvest is complete in a 25.4%, according to the Stock Marketwhich foresees a harvest of 46.5 million tons of cereal.

On the other hand, the area planted with 2024/25 wheat would total 6.15 million hectares, above the 5.9 million planted last season, The Bioeconomy Secretariat said this Thursday in its monthly crop report.

Source: Ambito

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