December 2, 2013

Argentina's 2013-14 soy acreage may reach 20.45 million hectares

Argentina's soy planting area for the 2013-14 period is shown to reach 20.45 million hectares (50.53 million acres), up from an earlier estimate of 20.2 million hectares, according to a weekly crop report by the Buenos Aires Grains Exchange.

The exchange also lowered its 2013-14 forecast of corn planting for commercial use to 3.3 million hectares from a previous forecast of 3.46 million.

The South American country is the world's number three exporter of both crops.

According to the exchange, Argentine farmers grew 48.5 million tonnes of soy on 19.7 hectares and 24.8 million tonnes of corn on 3.68 million hectares in the 2012-13 season.

This season, Argentine farmers have planted 48.9% and 43.5% of their expected 2013-14 plantation of soy and corn crops, respectively.