Argentina To Plant Record Soy Acres At Expense Of Wheat And Corn
Argentina's Agriculture Secretariat said Friday that the nation's farmers would plant a record 18.1m ha of soybeans for the 2008-09 crop. That figure is up substantially from the previous record acreage of 16.6m planted last season.
The figure represents an increase of 100% in area given over to Argentine soybeans in the last ten years.
Planting is currently 23% complete, the Secretariat added.
Soybeans are more popular than ever this season, due to a combination of lower input requirements relative to other crops, and also farmer mistrust of the government. After a difficult year, with long-running disputes between Argentine farmers and the government, the spectre of export bans on corn and wheat are always a possibility from the cash-strapped government. The threat of an export ban on soybeans is much lower.
The corn crop is seen at 67% planted, with 3.4m ha seen going into corn production this year. Output for the season ahead is seen at 18mmt, some 2.5mmt lower than 2007/08.
The wheat harvest in Argentina has just begun at around 5% complete. Final output is only expected to be in the region of 9.5 to 11mmt, the Secretariat says, substantially down on last seasons 16mmt due to lower plantings and drought.
The figure represents an increase of 100% in area given over to Argentine soybeans in the last ten years.
Planting is currently 23% complete, the Secretariat added.
Soybeans are more popular than ever this season, due to a combination of lower input requirements relative to other crops, and also farmer mistrust of the government. After a difficult year, with long-running disputes between Argentine farmers and the government, the spectre of export bans on corn and wheat are always a possibility from the cash-strapped government. The threat of an export ban on soybeans is much lower.
The corn crop is seen at 67% planted, with 3.4m ha seen going into corn production this year. Output for the season ahead is seen at 18mmt, some 2.5mmt lower than 2007/08.
The wheat harvest in Argentina has just begun at around 5% complete. Final output is only expected to be in the region of 9.5 to 11mmt, the Secretariat says, substantially down on last seasons 16mmt due to lower plantings and drought.
