Argentine drought to reduce soya planting area

A drought that has blighted Argentina's Pampas farm belt since November could provoke a cut in estimated 2017/18 soyabean planting area, the Buenos Aires Grains Exchange said on Thursday. The exchange's soya area estimate is 18.1 million hectares, 1.1 million hectares of which were sown over the previous seven days, the exchange said in its weekly crop report.
"There are 6.6 million hectares yet to be sown nationwide, and half that area should be planted over the coming two weeks. But those plans have been put at risk," the report said. Dryness has also held back 2017/18 corn planting. Farmers had planted 45.3 percent of the 5.4 million hectares estimated to be dedicated to corn as of Thursday, the report said.
Argentina is the world's top exporter of soyameal used in livestock feed and the No. 3 corn supplier.