Argentina Seen Planting Record Soybeans Acreage
Argentina is seen planting a record soybean acreage in 2008 as farmers there are still wary of government intervention in the grains markets.
Soybeans are seen as less likely to be threatened by governmental export bans than wheat or corn as domestic consumption there is low.
High input costs for corn and wheat are also a factor, as is a reduced wheat acreage due to drought earlier in the year.
Argentina will plant 18.2 million hectares of soybeans this season, a 300,000-hectare increase from its forecast last week, the Buenos Aires Cereals exchange said in its weekly crop report Friday.
Recent rains have improved planting conditions, which are now said to be "excellent." Plantings of 18.2 million hectares represents an 8% increase on last seasons record area of 16.9 million hectares.
Soybeans are seen as less likely to be threatened by governmental export bans than wheat or corn as domestic consumption there is low.
High input costs for corn and wheat are also a factor, as is a reduced wheat acreage due to drought earlier in the year.
Argentina will plant 18.2 million hectares of soybeans this season, a 300,000-hectare increase from its forecast last week, the Buenos Aires Cereals exchange said in its weekly crop report Friday.
Recent rains have improved planting conditions, which are now said to be "excellent." Plantings of 18.2 million hectares represents an 8% increase on last seasons record area of 16.9 million hectares.
