Argentine soya planting advanced 8.9 percentage points over the last week, reaching 70.2% of expected sowing area thanks to rains that relieved excessively dry conditions, the Buenos Aires Grains Exchange said in a report on Thursday.
"During the last seven days there was abundant rainfall over north-central Santa Fe and east-central Entre Ríos provinces, improving water supply. Important planting advances are expected over the next few days," the report said. Soya area this season is expected at 17.7 million hectares, according to exchange data.
The South American grains powerhouse is the world's No. 3 soyabean and corn exporter, as well as its top supplier of soyameal livestock feed. Recent hot, dry weather had threatened soya and corn planting and early development of the 2019/20 crop. Corn sowing has extended to all parts of the country's rains belt, the report said, reaching 62.8% of a total expected planting area of 6.3 million hectares. "The advance in corn planting during the week was 8.1 percentage points, or almost 4 million hectares in absolute numbers," the report said.