Soybean harvesting completed in Argentina

According to experts from the Buenos Aires Grain Exchange, the harvesting of soybeans as of July 3 was carried out on 100% of the planned areas.

As specified, the gross yield of oil in the current year. amounted to 56 million tons of soybeans, which is 60% higher than last year and 8.7% - the average level over the past 5 years. Such a significant increase in yield is due to the fact that a significant increase in soybean yield, which updated the record for 2014/15 MY (3.18 t / ha) and reached 3.36 t / ha.

According to experts of the exchange, such high soybean production in Argentina can lead to increased competition in the global market with Brazilian oilseeds, due to the expected increase in purchases of South American soybeans by China. Thus, according to the USDA forecast, in the current season Argentina exports 7.75 million tons of oilseeds, which is 3.5 times higher than the level of the previous season.