BUENOS AIRES, Sept 1 (Reuters) – Argentine farmers have bought a complete 28.5 million tonnes of soybeans from the 2020/21 crop, after registering gross sales over a seven day interval of 568,600 tonnes, the Ministry of Agriculture stated on Wednesday.
The size of gross sales of one among Argentina’s essential crops was behind that of the earlier season, when by this level some 30.three million tonnes of the oilseed had been bought, the ministry stated in report with information up to date by means of Aug. 25.
The 2020/21 soy harvest in Argentina led to June at 43.5 million tonnes, in response to the Buenos Aires grains alternate, in contrast with 49 million tonnes within the 2019/20 season.
Soy is a serious driver of export {dollars} wanted to replenish central financial institution overseas forex reserves strained by a three-year recession exacerbated final yr by the COVID-19 pandemic.
The ministry stated gross sales of 2020/21 corn had reached 38.7 million tonnes, about three million tonnes greater than gross sales registered on the similar time final yr. The alternate estimates 50.5 million tonnes of corn have been harvested within the 2020/21 season, which completed final month.
Argentine farmers have bought a complete of 5.7 million tonnes of wheat for 2021/22, with the harvest beginning in November. The Buenos Aires alternate has estimated the brand new wheat crop at 19 million tonnes.
(Reporting by Agustin Geist; Writing by Maximilian Heath; Enhancing by Adam Jourdan and Mike Harrison)
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