The planting of Argentina’s 2020/21 soybean campaign has now been completed across the whole 17.2 million ha projected area, gaining one percentage point in the week, according to the latest report from the Buenos Aires Grain Exchange (BAGE).
But owing to a lack of moisture in some key areas of the planted region, the agency has downgraded its production forecast by 500,000 mt to 46 million mt.
“The high temperatures, together with limited water supply compromised growth over the centre of the agricultural area, generating potential yield losses,” the report said.
Elsewhere, the country’s corn crop is now planted on 97.9% of the projected 6.3 million ha area, gaining 4.5 percentage points during the week.
This is also up close to one percentage point on the pace set last year, owing to good soil moisture content in recent weeks.
But concerns have been raised by some in the market of drier weather this week.
Nevertheless, the agency is maintaining its forecast for the 2020/21 crop at 47 million mt.
