Argentina’s soy harvest has progressed at a brisk pace over recent days, showing “excellent” yields that could push the crop higher than the currently forecast 53 million tonnes, the Buenos Aires Grains exchange said in a report on Thursday.
Average yields were running higher than 4.3 tonnes per hectare in the central Pampas farm belt, the crop report said.
“Soy harvesting advanced fluidly in the central agricultural region, elevating average national yields and allowing for the rapid collection of 5 million tonnes of beans,” the report said.
“Under this scenario we keep our forecast of a 53 million tonne harvest unchanged. But we do not discount the possibility of increasing our estimate, depending on yields collected over the weeks ahead,” it said, adding that 6.4 percent of the country’s soy planting area had been harvested as of Wednesday.
The Rosario grains exchange last month increased its 2018/19 soy crop estimate to 54 million tonnes from a previous forecast of 52 million tonnes.
