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Argentine soy harvest progresses despite heavy rains: exchange

Argentine soy harvest progresses despite heavy rains: exchange

Friday, 11 April 2014 01:24
Posted by Abdul Ahad
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imageBUENOS AIRES: Argentina's soy harvest progressed over the last week despite heavy rains that battered parts of the Pampas farm belt, the Buenos Aires Grains Exchange said in a report on Thursday.

The country, the world's top exporter of soymeal and soyoil, as well as the No. 3 supplier of raw beans, is expecting a record crop of at least 54 million tonnes.

"The storm front interrupted harvesting but at different times and in different areas, which allowed collection to advance," the exchange said in its weekly crop report.

"Rain over the weekend alone accumulated more than 200 millimeters (8 inches) of water in many parts of Cordoba, Santa Fe, Entre Rios and Buenos Aires provinces," it added.

The report said 14 percent of Argentina's 2013/14 soy area had been harvested through the end of work on Wednesday, lagging last year's rate by about 10 percentage points. The report said Argentine farmers had harvested 9 million tonnes of the oilseed from 2.8 million hectares.

The Argentine agriculture ministry expects a 2013/14 soy crop of 54 million tonnes while the exchange forecasts a harvest of 54.5 million tonnes.