Argentina's soy crushing down 36% in December

 

 

Soy crushing in Argentina declined 36% in December from the same month a year ago, according to new figures by industry group CIARA-CEC.

 

Argentina is the world's top supplier of soyoil and soymeal and the third-biggest exporter of unprocessed beans, but crushing activity dropped sharply last year due to the severe drought that hit the 2008-09 production.

 

Grain companies crushed 1.5 million tonnes of soy in December compared with 2.37 million tonnes in the same month of 2008. In November 2009, they processed 2.26 million tonnes.

 

Crushers crushed a total of 28.68 million tonnes during 2009, down 9.5% from the 31.69 million tonnes processed in the previous year. Production in December totalled 1.14 million tonnes of pellets, 291,007 tonnes of soy oil and 12,867 tonnes of expellers.

 

Argentina's 2008-09 soy harvest dropped to 31 million tonnes due to dry conditions, but many analysts expect record production of more than 50 million tonnes this year.

 

The USDA sees Argentine soy production at 53 million tonnes.

 

Argentina has just about wrapped up planting its 2009-10 soy crop, with recent showers spurring good development. As of January 21, 98% of the record 18.2 million hectares seen going to the oilseed had been planted, the Agriculture Ministry said in its weekly report on Friday (Jan 22).