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Pre Session Commentary
Argentina Soyabean Crop Plantation Reaches 31 percent So Far
03-Dec-19   09:00 Hrs IST

The 2019/20 soybean crop in Argentina was 31.3% planted as of late last week according to the Buenos Aires Grain Exchange. This represents an advance of 11.6% for the week, but it is still a little slower than average. In the core production areas, the soybeans are 50-55% planted with 15-30% in southern Argentina and very few soybeans planted in far northern Argentina.

As expected, farmers in Argentina are switching some of their intended corn acreage to soybeans instead out of fear that the new administration in Argentina might increase commodity export taxes. Both the Buenos Aires Grain Exchange and the Argentine government increased their 2019/20 soybean acreage last week by 100,000 hectares. The Grain Exchange is estimating the soybean acreage at 17.7 million hectares and the Argentine government is estimating the soybean acreage at 17.2 million hectares.

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