Argentina soybean sales stall near 72% of current harvest

Argentine farmers’ soybean sales inched up last week, reaching 72.2% of the 2021/22 harvest of the crop, data from the Agriculture Ministry showed, slightly behind the 74.2% sold at the same point last year.

Argentina is the world’s top exporter of processed soy meal and soybean oil, an important input for animal feed. It is also the No. 3 corn exporter globally and an important producer of wheat despite a drought that has hammered the crop.

Farmers sold about 249,300 tonnes of soy from Nov. 3-9, down by nearly half compared with the same week during the previous season, the data showed. Argentina’s 2021/22 soy harvest is estimated at 44 million tonnes.

Source: Reuters

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