Oct 26, 2022
Farmers in Argentina Waiting For Moisture to Start Soy Planting
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
It is time to start planting soybeans in Argentina and there may be a few fields planted if there is adequate soil moisture. Most farmers will wait to plant until they have enough soil moisture to ensure germination and stand establishment. If the rains for this week verify, some farmers will start planting their soybeans.
November is the main soybean planting month in Argentina, so there is time to replenish the soil moisture and still get the soybeans planted on time. The soybean acreage is expected to increase this year for the first time in several years due to the lower cost of production compared to corn and the government's recent support for soybeans.
The preferred exchange rate for soybean sales during the month of September helped farmers catch up on their soybean sales and improve their bottom line. The government wants and needs the largest soybean crop possible because of the tax revenue generated by soybean exports.
The soybean acreage is expected to increase further due to some switching of early corn to soybeans instead.