BUENOS AIRES, Apr 8 (Reuters) – Argentina’s 2020/21 soybean harvest would be 43 million tons, up from 44 million previously estimated, due to lower-than-expected yields as a result of the drought that affected the country in February. and March, the Buenos Aires Cereal Exchange (BdeC) said on Thursday.
Argentina is the world’s leading exporter of soybean oil and flour. Adverse weather conditions throughout the season have forced the entity to cut its estimate for the oilseed harvest on several occasions, which at the beginning of the cycle was 46.5 million tons.
“During the last three weeks, the harvest results are below the expected yields and even the historical averages, reflecting the impact of the water deficit during the months of February and March,” said the BdeC in its weekly crop report. .
Soybean threshing has just started in Argentina and, according to the report, as of Wednesday, producers had collected 3.5% of the harvestable area dedicated to cultivation.
Regarding 2020/21 corn, whose production the BdeC forecasts at 45 million tons, the entity said that mostly dry conditions in the last week allowed the grain harvest to advance, currently complete at 12%.
The dry weather registered during the 2020/21 campaign also forced the Stock Exchange to lower its harvest estimate for the cereal, initially of 47 million tons.
(Reporting by Maximilian Heath; Edited by Jorge Otaola; REUTERS WB)