The soybean harvest in Argentina has exceeded initial expectations, with a national average yield of 3,240 kilograms, showing an increase compared to the previous campaign. The first batches of second soybean have revealed yields above the forecast, according to the Rosario Stock Exchange, which indicates that the harvest is proving to be surprising after an adverse start characterized by a lack of rainfall and high temperatures.
The Buenos Aires Grain Exchange has raised its estimate for the soybean harvest during the 2024/25 cycle, projecting a harvest of 50 million tons due to the good yields recorded. So far, approximately 45% of the suitable soybean area at the national level has been harvested, with a significant weekly progress of 21%.
Amidst the current harvest, Dante Romano, head of large accounts at the grain brokerage FyO, warned about soybean prices, noting that it is the worst time to sell and that current prices should not be accepted. Romano explained that the theoretical payment capacity of the Argentine oilseed industry is much higher than the prices offered in the market, due to the coincidence of strong pressure from the Brazilian harvest with the entry of Argentine supply.
At an event organized by the CREA Sur region of Santa Fe, Romano mentioned that the soybean harvest in South America is at its peak, with an average of 4,100 kilograms of oilseed in the core region, adding additional pressure to local prices.
