Argentina Exchange Cuts Soybean Planting Estimates, Raises Corn

Argentina’s Buenos Aires Grains Exchange raised its corn planting estimate while trimming the pegged soybean areas for the 2024-2025 season. The corn crop is now seen covering over 16,308,000 acres, up from a prior estimate of more than 15,567,000 acres. The Exchange says the new forecast was a correction of the previous one. The soybean planting area is now seen at over 45,460,000 acres, a reduction of 494,200 acres from the previous estimate. Farmers are sowing less on lower soybean prices, and many are planting alternatives. Soybean and corn compete for the most acres in Argentina, one of the world’s top corn exporters and the number one exporter of soy byproducts to international markets. Argentina’s farmers have sown 85 percent of their soybean acres and 81 percent of the corn crop. The report also says farmers have harvested 89 percent of Argentina’s expected wheat crop.