A preliminary expert assessment indicates that 75% of all soybean crops in Argentina are in poor or very poor condition. Soybean & Corn Advisor reported on the main reason for the current collapse - a severe drought.
Experts from an authoritative source made a detailed analysis of the situation, from which Agrozernoholding quotes the following theses:
- More than 85% of all acreage affected by the severe drought. If the situation does not change, the world market will suffer from a lack of export of soybeans.
- Crops of early soybean are at such periods: 62% of early crops in the bean preparation phase, 16% - in the maturity stage.The situation with late soybean is as follows: 32% - in the stage of filling, 6% - maturity.
- Such figures indicate the possibility of launching a harvest campaign next week. According to preliminary information, some crops may not be harvested due to low yield indicators.
The critical situation with crops has not disregarded the experts of the Grain Exchange of Buenos Aires. The new report provides information on Argentina's decline in soybean exports to the world market in 2017/18 to 42 million tons, which is 2 million tons less than the previous estimate.