For marketing year (MY) 2012/13, soybean production is reduced to 53 million metric tons (MMT), one MMT lower than the USDA official estimate. Since mid-December, it has been hot, dry, and there hasn’t been significant rainfall in much of the major production area. Many of the late planted soybeans are entering a critical growth period, and without moisture, yields will be negatively affected.
Furthermore, planting is still not complete. More than 500,000 hectares remain unplanted in the provinces of Chaco, Catamarca, Corrientes, Formosa, Santiago del Estero, Tucuman, in the northern areas of Cordoba and La Pampa. Potential yields drop with each day planting is delayed.
Peanuts
Peanut planting is 100 percent complete according to the Ministry of Agriculture’s January 24th report. Post maintains area and production for MY2012/13 at 325,000 hectares and 1.2 MMT, respectively. According to contacts, peanuts are in good condition and have no major problems with diseases or pests this year.
