Soy: another cut in the harvest calculation

The Buenos Aires Cereal Exchange once again reduced its 2019/2020 soybean harvest forecast, due to the meager yields that are being observed in the core area, after the lack of rain and the heat stress suffered by crops between weekends February and early March.

In its weekly agricultural outlook, the entity updated its estimate to 49.5 million tons, 4.8 percent or 2.5 million tons less than the 52 million it had projected until last week.

On this point, it should be remembered that at the end of February, after the high volume of rainfall registered at the beginning of that month, the Stock Exchange had raised its outlook to 54.5 million tons.

In other words, in just 40 days, the forecast collapsed nine percent or five million tons.

In this way, the 2019/2020 production of the oilseed, if there are no further cuts, would be 10 percent below the previous season.

According to the report, 8.1 percent of the suitable surface has been collected and the greatest progress was seen in the northern core region, which includes, among other areas, the Marcos Juárez and Unión departments in Córdoba.

Print edition

The original text of this article was published on 04/03/2020 in our printed edition.