Argentine farmers are expected to plant 20.3 million hectares with soyabeans this year, up from 19.8 million hectares in the previous season, the agriculture ministry said in its monthly crop report on Thursday. The South American country produced 53.4 million tonnes of soyabeans last season, the report said, revised from an earlier estimation of 53 million tonnes.
Soon after the agriculture ministry announced its new estimates, the Buenos Aires Grains Exchange said it expects Argentine growers to seed 20.6 million hectares with soyabeans in the 2014/15 season, above the 20.35 million hectares planted with the oilseed in 2013/14.