The Buenos Aires Grain Exchange updated its forecasts for the 2021/22 soybean crop, bringing a correction in the area cultivated in this crop due to adverse weather conditions. The bulletin released this Thursday (13) states that “the projection of the area has dropped to 16.4 million hectares and is explained by the impossibility of completing the sowing plans in sectors in the extreme south of the agricultural region”. The country continues to suffer from very hot days – with temperatures exceeding 40ºC – and the absence of rain.
The institution also states that about 8.5% of the area that was able to be planted is already starting its critical period and that as soon as planting is completed – now completed in 92.5% of the area, the scenario of production will be updated.
The Buenos Aires stock exchange’s weekly bulletin also shows that the index of soybean crops in good or excellent condition dropped significantly, from 48% to 31%. Thus, the rate of fields in regular conditions went from 13% to 29% and in bad or very bad conditions from 39% to 40%.
Also, 60% of the humidity conditions are bad or very bad, up from 42% last week.
The Buenos Aires Grain Exchange still estimates Argentina’s soybean crop at 44 million tons. This Thursday, the Rosario Stock Exchange reported a cut in its estimate of five million tons, projecting the country’s production at 40 million tons.
Carla Mendes | Instagram @jornalistadasoja