BUENOS AIRES: Argentine farmers are expected to harvest 54 million tonnes of soy in the 2017/18 season, down from 57.5 million tonnes in 2016/17 as growers expand wheat and corn sowing, the Buenos Aires Grains Exchange said on Wednesday.
Soy planting area in the 2017/18 season is seen at 18.1 million hectares, down from 19.2 million in 2016/17, the exchange said in a presentation to grains industry leaders.
Argentina's 2017/18 wheat crop is forecast at 17 million tonnes versus 16.8 million in 2016/17, the exchange said. The country's 2017/18 corn crop was expected to climb to 41 million tonnes from 39 million in 2016/17, it said.
Soon after being inaugurated in late 2015, President Mauricio Macri spurred corn and wheat planting by ending the strict export curbs that the previous administration had put on both crops. Farmers have increased crop rotation as a result, by sowing more wheat and corn in fields previously dedicated to soy.
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