Soybean planting progress in Brazil and Argentina

03-Dec-2024 09:44 AM

Soybean planting progress in Brazil and Argentina
Brazil Soybeans (2024/25)
Planting Progress: By the end of last week, Brazil had planted 83.2% of its soybean crop, compared to 74.6% last year and nearing the 86.9% five-year average for this time.
Crop Condition: Conditions are reported to be good, suggesting favorable weather for soybean growth.
Production Forecast: Brazil's 2024/25 soybean production forecast was raised by 2 million tons to 168 million tons, reflecting positive expectations for the crop.
Argentina Soybeans
Planting Progress: Argentina has made significant planting progress, reaching 35.8% of the soybean area by the end of last week, up 16% from the previous week. However, this is still behind the pace compared to Brazil.
Regional Differences: In Argentina's main production areas (central and northern regions), sowing has reached 60-70%. In southern regions, it's slower, with sowing at 20-40%. Northern Argentina has yet to begin planting.
Production Forecast: The Buenos Aires Grain Exchange estimates Argentina will plant 18.6 million hectares of soybeans, with a production forecast of 50.8 million tonnes.
Summary:
Brazil: Fast planting progress with good crop conditions and a raised production forecast to 168 million tons.
Argentina: Steady progress, but regional delays, with a final estimated planted area of 18.6 million hectares and production of 50.8 million tons.