BUENOS AIRES, ARGENTINA — Corn planting area in Argentina was revised upward to 6.6 million hectares from 6.3 million hectares in the latest Buenos Aires Grains Exchange estimate, Reuters reported.
The soybean planting area is now pegged at 18.4 million hectares, a reduction of 200,000 hectares from the previous estimate as farmers turn to alternative options amid low soybean prices, the exchange noted.
Soybean and corn compete for planting area in Argentina, one of the world’s top corn exporters and the No. 1 shipper of soy byproducts. Argentine farmers have sown nearly 85% of the soybean crop area and 81% of corn fields, according to the report.
The exchange also said that about 89% of wheat fields have been reaped, with the season’s harvest seen at 18.6 million tonnes.
The Foreign Agricultural Service (FAS) of the US Department of Agriculture forecast corn production in Argentina at 48 million tonnes for marketing year 2024-25 in its latest report. Soybean production is seen at 52 million tonnes, with domestic crush reaching 42 million tonnes.
