Argentina's soybean sown area for the 2024-25 season is projected to increase to 179 lakh hectares, marking a rise of 13 lakh hectares or 7.8% compared to the previous season's sowing area of 166 lakh hectares.

As of November 21, 2024, 36% of the total estimated area had been sown, compared to 25% the previous week. This is also an improvement over last year's 33% sowing by the same date.

Meteorological forecasts suggest that the week of November 22-28 may bring dry conditions to key soybean-growing regions, reducing soil moisture.

However, clear weather could allow farmers to accelerate sowing. Conversely, from November 29 to December 5, good rainfall is expected in northern regions, while normal rains are anticipated in the core production areas, which will benefit the crop.

Argentina, the third-largest producer and exporter of soybeans globally after Brazil and the U.S., plays a vital role in global soybean oil and meal exports, with India being a major importer of Argentine soybean oil.

The Rosario Grain Exchange expects Argentina's soybean production to rise to 530-535 lakh tonnes during the 2024-25 season.