November 13, 2007

Light rains help Argentina complete one-third of soy planting

Argentine farmers have sown nearly a third of the area estimated for 2007/08 soy and light rains have helped the planting process, the Buenos Aires Grains Exchange said in a weekly crop progress report.

By Friday last week, farmers had planted 31 percent of the 16.8 million hectares estimated, 15 percent more than the week before and 1 point ahead of last season.

The rains on Thursday and Friday last week helped maintain the quick progress, the report said, adding that the condition of seedlings was good.

Argentina is the world's third-biggest soy exporter and its largest soymeal and soyoil provider.