Argentine Soybean Harvest 50% Complete

Argentina's soybean harvest has reached about 50 percent. First-crop soybeans are showing signs of good to very good yields. Second-crop soybeans were much more negatively affected by dry conditions throughout the growing season, and reported yields are lower as a result, according to a U.S. Department of Agriculture attache report posted Wednesday on the Foreign Agricultural Services Web site.

Post contacts estimate that by the end of this week, around 57 percent of the entire soybean crop will be harvested. Last year, the harvest advance had reached about 50 percent for this time of year.

The post says the USDA maintains its 2007/08 soybean forecast at 47.5 million tons. This year's sunflower crop, which has now been completely harvested, fared very well and had above average yields for the main sunflower growing regions. Post maintains USDA's forecast for sunflowerseed production at 4.5 million tons on a harvested area of 2.7 million hectares.