Argentina’s soyabean crop and production is expected to be strong in the 2024/25 marketing year although forecasts could be impacted by a developing La Niña weather pattern, according to a report by the US Department of Agriculture (USDA).
With 85% of the soyabean crop planted by 31 December, crop development was progressing well with 93% of the crop in the ground reported in good or excellent condition, the USDA’s Foreign Agricultural Service (FAS) said in its 6 January Argentina: Oilseeds and Products Update.
“However, potential La Niña-induced dryness could still impact yields throughout the growing season,” the USDA said.
“Despite these challenges, Argentina is set for a record high soyabean crush, forecast at 42M tonnes, driven by robust exports and a steady crush rate.”
Soyabean output was estimated at 52M tonnes, which would be the highest level in six years.
“This is driven by soyabean acreage gaining ground to corn and consistent favourable weather conditions with sufficient rainfall in the last few months,” the USDA said.
The agency increased its soyabean planted area forecast to 17.8M ha in 2024/25, up 900,000ha from its initial projection, while soyabean export was forecast to increase from 5M to 7.3M tonnes.
In 2023/24, Argentina was the world’s third leading soyabean producer and fourth largest soyabean meal exporter, according to an 8 January World Grain report.
