The Buenos Aires Grain Exchange cut its Argentine soybean crop estimate by 2 MMT to 42 MMT, according to its weekly report. The report cited lower yields and lowered planted soybean acreage at 16.3 million hectares. The exchange reported soybean planting is complete.
The report noted that 99.1% of the country’s corn crop was planted. The exchange left its corn production estimate at 57 MMT.
The exchange rated the soybean crop as 37% “good/excellent,” 45% “fair” and 18% “poor/very poor.” It rated corn as 28% “good/excellent,” 44% “fair” and 28% “poor/very poor.”
