BUENOS AIRES, Nov 9 (Reuters) – Argentine farmers have sold 33.6 million tonnes of soybeans from the 2020/21 crop year, the Agriculture Ministry said on Tuesday in a report with information updated through Nov. 3.
The sales pace was behind that of the previous season. At this point last year, growers had sold 34.8 million tonnes of the oilseed, according to official data.
The country’s 2020/21 soybean harvest ended in June at 43.1 million tonnes, according to the Buenos Aires Grains Exchange, which estimated the 2019/20 harvest at 49 million tonnes.
Agricultural export dollars are essential for Argentina’s economy, which is pulling out of a long recession but remains in the grip of inflation running at more than 52% per year.
Regarding 2021/22 soy, planting of which began last month in Argentina, there have already been sales of 2.9 million tonnes, according to official data. The exchange estimates the upcoming soy harvest at 44 million tonnes.
For the 2020/21 corn crop, the government said sales have been registered for 44.1 million tonnes, 4.3 million tonnes more than on the same date in the previous season. The 2020/21 corn harvest was 50.5 million tonnes, according to the exchange.
The government reported that 9.7 million tonnes of corn from the upcoming 2021/22 season had been sold so far. The sowing of corn for the new season is already underway, with the exchange forecasting the harvest at a record 55 million tonnes.
(Reporting by Agustin Geist; writing by Hugh Bronstein; editing by Jonathan Oatis)
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