Argentina cuts soybean production estimate by 1.5 million tonnes

03-Jun-2025 11:30 AM

Buenos Aires. In Argentina, the soybean production estimate for the 2024-25 marketing season has been reduced from 50 million tonnes to 48.5 million tonnes due to recent torrential rains.

The heavy rainfall caused severe flooding in the northern part of Buenos Aires province, submerging soybean fields and leading to significant crop damage.

About 21 percent of the soybean area in Buenos Aires that is yet to be harvested lies in the northeastern region, which remains severely affected by floods.

In some northern areas, farmers had begun harvesting last week, but efforts were largely unsuccessful due to waterlogged fields.

There is also uncertainty regarding the harvest in the lower-lying areas, as they remain underwater. Typically, this northeastern region receives minimal rainfall and is not prone to flooding, but this year the rainfall has far exceeded the normal average.

Even if harvesting resumes after the floodwaters recede, the yield rate is expected to be very low, and the grain quality poor, offering little relief to affected farmers.

By the end of last week, about 74 percent of Argentina’s soybean crop was ready for harvest. The average yield rate has been estimated at 3,120 kg per hectare (46.4 bushels per acre).

In early-sown areas, 81 percent of the crop has been harvested. The highest yield, 3,350 kg per hectare, has been recorded in the Cordoba province. In double-crop areas, around 56 percent of the crop is reported to be complete.

Argentina is the third-largest producer and exporter of soybeans in the world, after Brazil and the United States. It holds the top position globally in the export of soybean oil and soybean meal.