BUENOS AIRES, July 6 (Reuters) – Argentine farmers have bought 23.7 million tonnes of soybeans from the 2020/21 season, after transactions have been registered during the last week for 788,800 tonnes, the Agriculture Ministry stated on Tuesday in a report with information by means of June 30.
Argentine soybean gross sales have been slower than through the earlier 12 months, when 26.three million tonnes of the oilseed had been bought by this level within the season, in accordance with official information.
Argentina’s 2020/21 soy harvest is anticipated at 43.5 million tonnes, in accordance with the Buenos Aires Grains Alternate, versus an estimated 49 million tonnes within the 2019/20 crop 12 months.
Argentina is the world’s high exporter of soymeal livestock feed. The nation wants export {dollars} to replenish central financial institution international forex reserves strained by a three-year recession exacerbated by excessive inflation and the coronavirus pandemic.
Argentine growers are additionally harvesting 2020/21 corn. Gross sales of 32.2 million tonnes of this season’s corn crop have been registered thus far, the ministry stated within the report, three million tonnes greater than at this level final season.
(Reporting by Agustin Geist Modifying by Invoice Berkrot)
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