A leading grains exchange in Argentina cut its forecast for the country’s 2024/2025 soybean crop by a million metric tons as the impact of a drought becomes clearer. The Buenos Aires exchange now sees the crop’s output hitting 48.6 million tons, down from its forecast of 49.6 million tons published last week. The exchange said the smaller than expected output was due to a drought that has reduced yields in the country’s northeast. Argentina is the world’s largest exporter of soybean oil and meal.
March 23, 2025
SOURCE: B RECORDER
Argentina grains exchange cuts soybean forecast