Argentina’s soyabean planted area is projected to fall by 1M ha in 2025/26, but strong carry-over stocks will drive 17% increased exports, according to a US Department of Agriculture (USDA) Foreign Agricultural Service (FAS) report dated 7 April.
Elevated soyabean planting on a planted area of 17.5M ha in 2024/25 was due to pest pressures from the chicharrita leafhopper, which reduced corn cultivated area.
The expected planted area of 16.5M ha is on a par with acreage in 2023/24.
“Argentine farmers commonly follow alternating cycles between soya-dominant and corn-dominant years, as producers adapt rotations based on conditions and expected prices,” the FAS reported.
“Marketing year 2024/25 represented a peak in soyabean planting, influenced more by elevated input costs and the pest concerns in corn.”
Despite the lower planted area, Argentinian soyabean production is forecast to remain stable at around 4M tonnes or even increase slightly to 4.5M tonnes.
The production resilience is due to a slightly improved expected yield, rising from 2.8-3 tonnes/ha.
However, the FAS sees rising production costs in the coming season, which will keep margins negligible.
“Production costs for soyabeans continue to rise, and margins, particularly on rented land, are expected to be razor-thin or even negative in MY2025/26,” the agency reported.
Due to more than 75% of Argentinian soyabeans being grown on rented land, farmers continue to experience financial pressure.
Despite this, soyabean exports are expected to rise by 17%, totalling 5-6M tonnes in 2025/26.
The rise in export was due to the highest soyabean stocks the country has seen in six years, with carry-over stocks estimated at 10M tonnes.
Stocks were still at historically average levels, with stocks in recent years lower due to drought-induced reductions, the FAS stated.
