Recent rains have improved soil moisture in three key soya-growing provinces, setting the stage for a possible future increase in this season's crop estimate, the Buenos Aires Grains Exchange said on Thursday.
Plantings in Entre Rios, southeastern areas of Santa Fe and southern parts of the bread-basket province of Buenos Aires have benefited from recent showers of varying intensities, the exchange said in its weekly crop report.
"Currently 58.1% of total soya planting area is in its critical yield-setting stage, with much of that area enjoying moisture conditions between optimal and adequate," it said.
"The season's production estimate remains at 53.1 million tonnes, although we do not rule out future increases depending on the weather conditions in the coming weeks," it added.
Argentina is a major exporter of soyabeans, as well as the No. 1 international supplier of soyameal livestock feed.
In the far north of the agricultural region there were significant floods in Chaco province, it said. Earlier in the week, meteorologists told Reuters that parts of Chaco, which accounts for a very small proportion of Argentine farm production, had gotten more rain over Feb. 14 and 15 than they usually do in a month.
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