Argentine soy planting area estimate cut to 17.7mn hectares

BUENOS AIRES: Argentina's 2018-19 soy planting area is estimated at 17.7 million hectares, the Buenos Aires Grains exchange said on Thursday, lowering its previous forecast of 17.9 million hectares due to hard rain in the northern part of the farm belt.

"Excess moisture has made it impossible to sow in large sectors of Chaco, Santiago del Estero and some parts of north-central Santa Fe provinces," the exchange said in a weekly crop report.

It also warned that more weather-related planting area losses may be ahead.

The country's recently collected 2018-19 wheat harvest is estimated at 19 million tonnes versus a previous forecast of 18 million tonnes, the report said.