Harvest of soybeans in Argentina: sales have dropped to the lowest level in recent years, and processing also faces the risk of reduction.

According to estimates by the Ministry of Agriculture of Argentina, by the beginning of May, the country's agricultural enterprises had only realized 31% of the projected future harvest of soybeans, estimated at 49.7 million tons. This result turned out to be the lowest in the past few years, starting from the 2014/15 season.

Additionally, as of May 15, the cultivated land for oil crops had only been harvested at 61% of the planned volume, which is a deterioration compared to last year. The poor performance in harvesting oil crops is attributed to heavy rains that hit the grain belt of Argentina. Moreover, low prices for oil crops in the domestic market contributed to the lowest soy sales figures in the last 10 years.

It is forecasted that the slow pace of oil crop sales could lead to a reduction in their processing volumes in the domestic market.