March 1, 2005

Argentina's 04-05 soybean crop 99.7 per cent planted

Argentina's farmers had planted 99.7% of the country's 2004-05 soybean crop by Saturday, according to the latest data from the Buenos Aires Cereals Exchange. This is unchanged from a week ago.

Most farmers will begin harvesting the crop within a couple of weeks. In some areas, the harvest has already begun.

The exchange sees the 2004-05 area 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.

The harvest is expected to total 37.7 million tons, the exchange said.

The forecast is based on the assumption that yields will average 2.6 tons per hectare.

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

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