Argentina soybean harvest at “record pace”, yields decline: BAGE

27.04.2018

Argentina's soybean harvest accelerated over the past week with harvested areas reaching 54% of the planted acreage, an increase of 14.4 percentage points on the week and up 21.7 percentage points on last year, the Buenos Aires Grain Exchange (BAGE) said Thursday.

The accumulated harvested volume crossed the 22 million mt mark, with the total expected at 38 million mt, unchanged on the week.

Average yields slipped back from 2.56 mt per hectare last week to 2.38 mt per hectare, as the majority of lots in good condition are already harvested and action now moves towards areas that have suffered more severely from the drought.

“As the harvest progresses over late lots, second seeding and over plots located in the Northeastern and Northwestern regions, the national average yield will continue to decrease until it reaches the estimated final of 2.2 mt per hectare,” BAGE said.

That compares to a yield of 3.19 mt per hectare achieved last year and the five-year average of 2.96 mt per hectare.

Meanwhile, the corn harvested progressed slowly to 30.9%, up 1.4 percentage points on the week, with the average yield down on the week from 7.26 mt per hectare to 7.21 mt per hectare.

“After harvesting more than 1.6 million hectares of corn, yields remain below initial expectations,” BAGE said.

Argentina planted a total of 5.4 million hectares of corn this year.

BAGE kept its forecast for Argentina’s corn production unchanged at 32 million mt, down 7 million mt on the year.


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