Soybean producers had sold 70.3 per cent of Argentina’s 2021-22 crop through the third week of October, the agriculture ministry said Oct. 26.
The portion of the soybean crop sold to date underperforms the 74.2 per cent sold during the same period in the 2020-21 season.
Argentina, the world’s top exporter of processed soy, harvested 44 million tonnes in 2021-22.
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Producers sold 164,900 tonnes of the harvest between Oct. 13-18, far below the 750,000 tonnes sold in same period last year, though a temporary soy export boom last month makes comparison difficult.
After the government announced a preferential “soy dollar” exchange rate, soy exports in September jumped to 13.3 million tonnes, far above the historical monthly average of 4.4 million tonnes.
The agriculture ministry also reported that 69.4 per cent of Argentina’s 59-million- tonne corn harvest had been sold, above the 67.6 per cent sold at the same point last year.
Corn planting for the 2022-23 cycle began last month, although drought delayed planting and contributed to the smallest planted area in six years, according to the Rosario Grains Exchange.
The exchange also slashed its forecast for Argentina’s wheat harvest to 13.7 million tonnes from 15 million.
