BAGE: As of December 20, the progress of soybean planting in Argentina is 60.6%

Foreign media news on December 25: The weekly report of the Buenos Aires Grain Exchange (BAGE) said that as of the week of December 20, 2022, the progress of soybean planting in Argentina for the 2022/23 season reached 60.6%, higher than that of the previous week. The previous 50.6%, 12.6% lower than the same period last year.

The exchange estimates that the soybean acreage in Argentina in 2022/2023 will be 16.7 million hectares, an increase of 400,000 hectares or 2.5% from the previous year’s 16.3 million hectares, because the dry weather has caused Argentine farmers to switch corn arable land to soybeans.

The exchange expects soybean production to be 48 million tons, up from 43.3 million tons in 2021/22.

In its supply and demand report on December 9, the U.S. Department of Agriculture predicted that Argentina’s soybean production in 2022/23 would be 49.5 million tons, unchanged from the November forecast and higher than the previous year’s 43.9 million tons.