MUMBAI (Commoditiescontrol) - Argentina soybean production during 2017-18 (Apr-Mar) is likely to fall by 1.38% at 570 lakh tonnes compared to 578 lakh tonnes a year ago, the US Department of Agriculture's Argentine arm said in a report.
However, the department has kept its forecast unchanged from its previous report
According to local reports, almost 90 percent of the soybean crop has been planted. Sowing still has to be completed in northern Argentina, specifically the provinces of Salta, Chaco, Santiago del Estero, and Formosa, said the report.
Planting progress in this region has been slow due to elevated temperatures and the lack of rain. So far, the soybean crop is exhibiting good conditions with over 90 percent of the crop exhibiting “normal” and “good” conditions in addition to adequate moisture levels, according to the Grains Exchange of Buenos Aires.
There is concern that 2nd crop soybean may endangered by the lack of adequate planting conditions in Buenos Aires province due to drought-like conditions. These conditions are the result of rainfall below average levels, high temperatures, and low soil humidity.
Local observers report that Buenos Aires province is the most affected by La Nina this season. Moreover, there could be potential losses for 1st crop soybean if significant rainfall does not resume. There have already been some reports of burned leaves and stunted plants in the north part of the province due to these conditions.
This season was hit by particularly erratic weather with heavy rains and flooding at the beginning of the season and excessive heat conditions in north Argentina and the province of Buenos Aires in late December/early January.
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(By Commoditiescontrol Bureau; +91-22-40015533)
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