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Argentina’s soy area could fall three percent
Oct. 14, 2016
Argentina’s farmers are expected to cut soybean acreage by three percent to 19.6 million hectares as growers expand corn planting, the Rosario Grains exchange said on Thursday.
Farmers on the Pampas grain belt are expected raise corn area by 17.5 percent to 5.7 million hectares, up from 4.85 million hectares last year, the exchange said in its monthly crop report.
Argentina should produce 13 million tonnes of wheat in 2016-17, up from 10.9 million tonnes in 2015-16, it said.
The wheat crop is nearing harvest.
Planting trends are shifting under President Mauricio Macri, who eliminated wheat and corn export taxes soon after he took office at the end of last year.
“Good wheat crop development is being seen, including areas in the central-northern part of the farm belt which have benefited from recent rains,” the report said.
“The return of rains in these areas, after weeks of persistent high temperatures and strong winds, has kept wheat on track toward a promising season,” it added.
Source: Reuters
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