Amid one of the worst droughts in recent history, the USDA attaché is projecting a much smaller than expected 2022-23 soybean crop in Argentina.
A report Tuesday from the Buenos Aires attaché of the USDA’s Foreign Agricultural Services agency pegged Argentina’s crop at just 36 million tonnes, a whopping 9.5 million tonnes below the latest official USDA estimate released in January. If accurate, this year’s Argentine crop would fall almost 8 million or nearly 18% below the 2021-22 crop of 43.9 million, and even below the 2017-18 drought-battered crop of 37.8 million.
The report noted is the third year in a row with a dry La Niña influenced weather pattern for Argentina. As such, there was little soil moisture available during the optimum planting windows for soybeans in October, November, and December.
Click here to see more...