Recent rains in Argentina's main soya-growing areas have helped maximize yields in higher-altitude areas not affected by the floods that have soaked lower-lying fields, the Buenos Aires Grains Exchange said in its weekly crop report on Thursday.
The exchange kept its 2016/17 harvest estimate steady at 54.8 million tonnes. Soya planting in Argentina starts in October. Harvesting starts in March and ends in May. The country is the world's top exporter of soyameal livestock feed.
"It has continued to rain in the main part of the farm belt, keeping some lower-lying areas flooded while restoring moisture to higher areas," the report said.
"Much of early-planted soya is in its pod-filling stage, with high yields expected in mid to higher areas and more modest expectations in lower-lying areas that have had too much moisture since early in the season," it said.
The exchange also kept its 2016/17 corn crop estimate unchanged at 37 million tonnes. That would be 23 percent higher than the previous season thanks to increased planting spurred by the export-oriented policies of President Mauricio Macri, who took office in late 2015. Corn harvesting started this month.
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