Reuters / Floods have severely delayed Argentine soy planting at a time when consumer nations are counting on the country to help control soaring grains prices by replenishing supplies.
“Soy planting has begun, although with severe and continuous interruptions,” the Buenos Aires Grains Exchange said in its weekly crop report.
Only two per cent of Argentina’s projected soy area was planted as of last week and farmers fear more rain will further delay seeding. The world’s No. 3 soybean exporter has been pelted by unusually strong rains since August — a sharp contrast to a year ago when dryness was the main problem.
Flooding in the country’s Pampas Grains Belt has also allowed fungus-based diseases to attack the emerging wheat crop.