Argentina: Oilseeds and Products Update

2019/20 soybean planted area is forecast at 18 million hectares and production is forecast at 53 million tons, unchanged since September. Despite dry weather in the southern pampas, the soybean crop is 79 percent planted and in good condition. 2018/19 soybean exports are reduced to 10.2 million tons. 2019/20 Sunflowerseed planted area is forecast 1.63 million hectares down 125,000 hectares since September and production is reduced to 3.3 million tons. On December 14, the new Argentine government raised export taxes on grains and oilseeds. However, anticipation of higher export taxes led to record-setting forward sales and export registration by farmers and exporters hoping to lock-in sales under the previous export tax rates.

Argentina: Oilseeds and Products Update