November 7, 2005

Argentina's 2005-06 soybean crop 21 percent planted

Argentine farmers made quick progress while planting the 2005-06 soybean crop this week thanks to fresh rain in key provinces, the Agriculture Secretariat reported Friday.

As of Thursday, farmers had planted 21 percent of the 2005-06 soybean crop, putting the pace up from 9 percent a week ago but down from 24 percent a year ago. However, the secretariat expects farmers to plant almost one million hectares more soy than they did a year ago.

The secretariat sees planted area at a record 15.12 million hectares this season, compared with 14.4 million hectares the previous year.

As of Saturday farmers had sown 3,144,430 hectares of soybeans.

The Buenos Aires Cereals Exchange has estimated planted area at 15.6 million hectares, up from 14.67 million a year earlier.

The US Department of Agriculture has forecast Argentina's 2005-06 soybean output at a record 40.5 million tonnes, up from the previous record of 39 million a year ago.