Soybean sowing is slow in Argentina

19-Nov-2024 09:38 AM

Soybean sowing is slow in Argentina
The slow soybean sowing in Argentina could be a concern for the upcoming season, as only 8% of the area has been planted by mid-November, which is behind the usual pace of over 10%. This delay could potentially affect overall production if the sowing continues to lag. According to BAGE, the forecast for Argentina's 2024-25 soybean crop is 186 lakh hectares with an expected production of 508 lakh tonnes, but any disruptions in sowing could impact these estimates.

Meanwhile, Brazil, which is a key competitor in the global soybean market, has been active in exporting both soybean and maize. From November 1-18, Brazil exported 1.5 million tonnes of soybeans and 2.8 million tonnes of maize. These figures suggest that Brazil is maintaining a strong export pace, which could affect global market dynamics, especially if Argentina's output is lower than expected due to delayed sowing.

The situation in both countries is worth monitoring closely, as any shifts in production or export volumes could influence global prices and supply chains for both soybeans and maize.