Argentina’s soy harvest unscathed by heavy rainfall

The Rosario Grain Exchange increased Argentina’s soybean yield forecast to 52m tons in the 2018/19 season, despite a loss of 700,000 hectares due to heavy rainfall. The previous forecast stood at 50m tons.

The country is expecting a 49% larger crop harvest compared to the previous season’s drought-stricken crop. The new estimate comes despite the torrential rain that swept the country’s Pampas grain belt in the 2018/19 season. The Rosario Grain Exchange is optimistic of a 3.08 ton per hectare yield.

Argentina is the world’s largest exporter of soyoil and soymeal livestock feed. DatamarNews reported the country will export between 300,000 and 400,000 ton of soybean oil to China after March when harvesting begins.

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