World Agricultural Production (WAP) Circular

WAP Current Update

Argentina Soybeans: Over 90 Percent of Crop Planted, Early Crop Flowering

Production for 2017/18 is forecast at 56 million metric tons, 2 percent below last month and 3 percent below last year. Area is estimated at 18.7 million hectares, down 2 percent from last month and up 2 percent from 2016/17. Yields are expected to be favorable, averaging around 2.99 tons per hectare, up slightly from last month but down 5 percent from last year. Limited rain in mid- and late-December delayed planting. January rainfall will determine if any secondcrop soy or late-planted first-crop soy can be planted as northern Argentina farmers wait for additional rain to supplement soil moisture.

Despite slow planting, crop conditions appear average to above average with only some late seeding remaining in the provinces of Salta, Chaco, Santiago del Estero, and Formosa, and some second-crop soybean sowing in Buenos Aires. Farmers have incentives to continue planting because the government announced a 0.5-percent reduction of soybean export taxes each month between January 2018 and December 2019. This will lower the soybean export tax to 18 percent from 30 percent by December 2019. (For more information, please contact Denise.McWilliams@fas.usda.gov.)

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