More than 54 percent of Argentina's 2010/11 soya crop has been brought in despite wet weather over the last week that delayed harvesting, the Buenos Aires Grains Exchange said in its weekly report on Wednesday. Progress in harvesting soyabeans advanced 11.5 percentage points compared with the previous week's report, issued on Thursday, bringing the total amount of harvested soyabeans to 28.5 million tonnes, the exchange said.
Progress was made despite rains that slow harvesting in this South American country, which is the world's No 1 soyameal and soyaoil exporter, as well as the third-biggest soyabean supplier. The exchange expects a total 2010/11 soya crop of 49.2 million tonnes, a forecast that was unchanged compared with the previous week's report.
"Median yields are at 2.87 million tonnes per hectare, 12.7 percent less than that achieved by this time last year," the report said. The exchange attributed the fall in yields in both early and late-planted fields to dry weather at the end of 2010 and a very hot, dry March.
Argentina's Agriculture Ministry meanwhile increased its 2010/11 soya harvest forecast to 50.4 million tonnes from a previous 50 million, the ministry said in a monthly report released on Wednesday. The ministry also increased its estimate of Argentina's 2010/11 corn crop to 20.9 million tonnes from its previous estimate of 20.8 million. The exchange, in its weekly report, kept its 2010/11 corn crop forecast at 20.0 million tonnes. Argentina was affected by dry weather earlier this season, but heavy rains from mid-January onward have since brightened the outlook for the country's lucrative grain crops.
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