Argentina’s 2017/18 Soybean Harvest to Fall by Nearly 40 Percent
Argentina’s 2017-18 soybean crop is expected to come in at 36 million tons - 37 percent lower than initial expectations at the beginning of the year, according to data from the U.S. Department of Agriculture’s (USDA) Global Agricultural Information Network (GAIN) report issued on August 30.
Serious drought issues have resulted in national average yields falling to 2.12 tons per hectare, or 22 percent below original forecasts, with only certain areas in North Buenos Aires, Santa Fe, and east Cordoba provinces showing yields that fall within historic average levels of 2.7 tons per hectare.
Incidentally, the country’s soybean imports between January and June of this year more than doubled compared to the same time period a year before to 2.72 million tons, with the country sourcing imports from the U.S. and Brazil.
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