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Argentina 2024/25 annual soybean production is expected to be 51.20 million tons

Golden Ten Futures, November 28, according to foreign media reports, some industry analysts said that the recent widespread precipitation in the core Pampas production area has improved the local soil moisture, which has also slightly improved Argentina's 2024/25 soybean production, although the long-term weather outlook remains bleak. The analyst said that Argentina is expected to produce 51.20 million tons of soybeans in 2024/25, an increase of 1% from previous estimates. Current estimates show that the country's soybean planting area is 17.90 million hectares, which is in line with the latest outlook of the Rosario Grain Exchange, but much lower than the 18.60 million hectares estimated by the Buenos Aires Grain Exchange. The US Department of Agriculture said in its November crop supply and demand report that Argentina's 2024/25 soybean production is expected to be 51 million tons, the same as the October estimate. Production estimates for the Rosario Grain Exchange and the Buenos Aires Grain Exchange are 5,300-53.50 million tons and 50.80 million tons, respectively.