Commodities Buzz: Argentina To Witness Massive Decline In Soyabean Crop On Weather Issues

The Rosario Grain Exchange is estimating the total 2017/18 soybean production in Argentina at 40.0 million tons and the total corn production at 32.0 million tons.

The Dutch bank Rabobank is also estimating the 2017/18 Argentine soybean crop at 40.0 million tons and they indicated that their estimate could move lower if hot and dry weather persists. A 40 million ton production would represent a decline of 18 million tons from the 2016/17 growing season. For the Argentine corn crop, the bank is estimating the 2017/18 production at 33.0 million tons.

In their latest weekly report, the Buenos Aires Grain Exchange estimated the 2017/18 Argentine soybean production at 42.0 million tons and the corn production at 34.0 million tons.