Argentine government says 72.6% of 2021/22 soybean crop sold so far

Farmers in Argentina, the world’s top exporter of processed soy, have so far sold 72.6% of the 2021/22 soybean harvest, the agriculture ministry said on Wednesday, lagging the 75.6% sold at the same point a year ago.

Producers in Argentina sold 165,500 tonnes of the season’s soybeans in the week of Nov. 10-16, down from the 641,700 tonnes sold during the same period a year earlier. 2021/22 soybean harvest was 44 million tonnes.

Soybean sales boomed to 13.3 million tonnes in September, driven by a temporary preferential exchange rate for producers, but have slowed since leading the government to analyze bringing back the so-called “soy dollar” FX rate.

Source: Reuters

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