While the soybean harvest continues in the fields, the production disaster caused by the drought is confirmed. The Cereals Bag of Cereals has again reduced its estimate to 22.5 million tons, 2.5 million tons less than the previous forecast, being the worst campaign in the last 23 years.
According to the institution’s report, in the last seven days the progress of the harvest has reached 16.7% of the suitable area, reporting a national average yield of 1,570 kilos, which to date has reached 24.4% of the 16 million hectares planted.
In this context, contributors report yield losses on what was harvested compared to what was expected, with squares on both cores being the most affected.
The weather was decisive for the drastic decline in soybean production. First of all, the drought that has hit us since June last year. then the early frosts that occurred on the February carnival weekend were added. And finally the latest heat wave that hit the country from February 27 to mid-March, with temperatures exceeding 40 degrees for several days in a row.
So in this situation, the Buenos Aires grain exchange has again reduced its estimate to 22.5 million tons: 2.5 million tons less than the previous estimate and 22.5 million tons less than the average of the last five campaigns.
Last week the Rosario Stock Exchange had already cut the estimate to 23 million tons of soybeans.
In particular, according to the body, the oilseed yield in the central region, the most productive in the country, has now dropped to 1,400 kilos when it was calculated at 1,480 kilos in mid-March and is normally between 4,000 and 4,500 kilos.
In this way, with 400,000 tons less, the central region will produce 4.1 million tons against the expected 19.8 million tonsr at the time of planting the crop.
In this context, there is a soy dollar new edition, which for now is not increasing sales by manufacturers. Through Wednesday, traded tons accumulated 831,642 tons, 82% and 59% lower than recorded during the September and December accumulation, respectively.
Mainly, they’re offering prices ranging from $100,000 to $105,000, well below what manufacturers want.
Specifically, the Operational Site of the Rosario Stock Exchange (BCR) was held. auction of the first lot of soybeansevent that symbolically marks the beginning of the marketing of the campaign’s oilseed.
“We are heading towards a close of the campaign with both production and yield values so low that we have to look over the last century to find similar numbers,” said the president of the Rosario Stock Exchange, Miguel Simioni, “Our pole Soy is losing its position as world leader at the hands of New Orleans and this year our country could lose its status as the first exporter of soybean meal at the hands of Brazil,” he added about the effects of the drought.
In any case, looking at the sowing of wheat, from the government are optimistic after the last rains that took place in March, which arrived late for the busy harvest, but which are exciting for what is to come. According to calculations by the Secretary of Agriculture, Juan José Bahillo, the area is expected to remain or exceed 7 million hectares.
The latest survey conducted by the National Drought Monitoring Council indicated this The heavy rains in March, which gradually returned to various regions of the country, allowed for an improvement in conditions andn a large region of the center of the country.
The first signs of change became evident towards the second half of the month, the report said, which is reflected in the reduction of almost 35 million hectares of the total area affected by drought. Now, there are 138 million hectares affected across the country and 9 million are cultivated lots.
Source: Clarin
