Most of Argentina's 2010/11 soyabean crop is developing well due to ample soil moisture after plentiful rains in recent weeks, the Agriculture Ministry said on Friday in a weekly crop progress report. Argentina is the world's No 3 exporter of soyabeans and the top supplier of soyaoil and meal, and heavy rainfall since mid-January has brightened the outlook for the oilseed.
"Due to the rains and high temperatures of recent weeks, soya crops have been growing fast and have recovered from the lack of rainfall at the start of the growing season," the ministry said, referring to Bragado, in the north of Buenos Aires province, Argentina's biggest soya-producing region. It said crops in Tres Arroyos, in the south of the province, were in a patchier condition, depending on the level of rainfall received.
Agriculture Minister Julian Dominguez has said the soya crop should come in at between 50 million and 52 million tonnes, close to the record 52.7 million tonnes gathered in the previous harvest. The US Department of Agriculture forecasts output at 49.5 million tonnes.
Argentine growers are also gathering the first 2010/11 corn, which was harder hit by dry conditions at the start of the season. Many crops are in a patchy condition in Buenos Aires province due to the earlier drought, but rains this week brought some relief to less mature crops in parts of Santa Fe. The report said early yields in Laboulaye district in Cordoba were between 5 tonnes and 6 tonnes per hectare, down from the historical average of between 6.5 tonnes and 7 tonnes per hectare. Dominguez has estimated the corn harvest at about 21 million tonnes, while the USDA expects production of 22 million tonnes.