February 22, 2005

Argentina's 2004-05 soybean crop planning update

Argentina's farmers had planted 99.7% of the country's 2004-05 soybean crop by Saturday with most farmers harvesting the crop within a few weeks, according to the latest data from the Buenos Aires Cereals Exchange.

Estimates of total planted area are at 14.67 million hectares. Last year, farmers planted 14.5 million hectares and harvested 32.2 million metric tons of soy, according to the exchange.

Recent rain has helped revive what would otherwise have been a soil moisture problem while boosting crop growth, the exchange said.

The next harvest is expected to yield 37.7 million metric tons, a forecast based on the assumption of average yields at 2.6 tons per hectare.

The US Department of Agriculture estimates Argentina's 2004-05 soybean output at 39 million tons at an average yield of 2.76 tons/hectare,.

The Agriculture Secretariat has forecast production at between 36 million and 38 million tons.