In their report, analysts at the Buenos Aires Grain Exchange forecast an increase in the country's soybean production to 2022 million in 23/48 Tonnen, reports Reuters.
Thus, the country's oil harvest in the new season could increase by 15,5% per year, compared to 43,3 million tons Soybean in 2021/22 by expanding the cultivated areas through reduction among other crops, viz Corn.
So the cultivated areas under the oilseed around 400 thousand Hektar increase to 16,7 million hectares, while the areas under the Corn be reduced from 7,7 to 7,5 million hectares.
As a result, corn production could fall to 2022 million tons in 23/50, down from 52 million tons in the previous season. It is also expected that the wheat harvest is reduced by 21,9% per year due to the severe drought – to 17,5 million tons.