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BUENOS AIRES, Nov 9 (Reuters) - Argentine farmers could plant more fields with soybeans than initially estimated, the Buenos Aires Grain Exchange said on Thursday, as rains put an end to a drought that affected large parts of the agricultural heartlands.
In a report days after farmers began planting the 2023/24 soybean crop in Argentina, one of the world's leading exporters of soybean oil and meal, the exchange said the planted area could extend beyond the 17.1 million hectares first forecast.
Rainfall arrived too late for fields originally intended for some crops, such as early corn in the north part of Argentina's agricultural core and sunflower crop to the west, the exchange said, causing them to be re-destined for soybeans.
Some 6.1% of the intended soybean fields have now been sowed, the exchange added, boosted by the rain but still 13 percentage points behind the average pace over the last five campaigns.
The rains also allowed planted cornfields to recover from damage caused by late frosts, it said. Farmers have planted 24.7% of the intended 7.3 million hectares dedicated to the crop in the world's No. 3 corn exporting country.
Farmers were meanwhile harvesting their 2023/24 wheat crops, the exchange said, with 14.4% of 5.9 million hectares of sown wheat fields already threshed.
The exchange estimates Argentina's wheat harvest at 15.4 million metric tons, though the latest report warned of the possibility of late frosts damaging some lots.
This comes after a historic drought last year devastated the agricultural sector and halved Argentina's wheat output to around 12 million tons.
(Reporting by Maximilian Heath; Writing by Sarah Morland; Editing by Daniel Wallis)
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November 11, 2023 at 12:00AM
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Argentine farmers could plant more land with soybeans after rains, exchange says - Successful Farming
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