Soybean harvest hits central Argentina, yields variable: BAGE

Argentina's soybean harvest is now underway in the central area with early results showing highly variable yields caused by irregular and uneven rains during the growth cycle, the Buenos Aires Grains Exchange (BAGE) said Thursday.

The exchange kept its output estimate for the world’s third largest producer unchanged at 44 million mt, adding that it will be able to confirm that number as the harvest picks up pace in the coming weeks.

At the same time, rainfall in the north improved the moisture conditions there which is expected to have a positive impact on yields for plots sown at the end.

Meanwhile, corn harvesting continued in central and southern Argentina with 7% harvested so far, up just 1.1 percentage points on the week.

“The rains registered during March improve the water reserves of the late plots, but delayed the harvest of the early plots,” BAGE said.

The exchange kept its estimate flat at 45 million mt, down from last year’s record output of 51.5 million mt.

The harvest of sunseed, meanwhile, reached 74% up 9 points on the week and slightly ahead of the year despite being slowed down by recent rains.

“Rainfall records in recent weeks slowed the rate of harvesting, but it is expected that in the next few days the passage of the storm front will culminate, and work will resume,” the exchange said.

National yields averaged at 2.14 mt/ha as better results in the North of La Pampa-West of Buenos Aires offset losses in southern areas, with the output estimate held at 2.7 million mt.