USDA Oilseeds and Products Update (Jan. 10): Argentina's Projected Soybean Production Reduced to 46.5 MMT

Buenos Aires, AR — Despite favorable conditions initially, Argentina's oilseed crops have faced warm and dry weather across most growing regions since mid-December.

Rains are needed soon to forestall more significant yield reductions.

Projected soybean production for Marketing Year (MY) 2021/22 has been reduced to 46.5 million metric tons (MMT), 3 MMT below USDA's official estimate.

More advanced drought conditions in Paraguay could reduce Argentine imports below the current projected 4.5 MMT, which is 300,000 metric tons below USDA's estimate.

Argentine MY 2021/22 sunflower seed and peanut production projections are unchanged at 3.4 MMT and 1.3 MMT, respectively.

For the full report, click here.

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