Soybean output for Argentina, is forecast at 54.5 million mt, up 3% on previous estimates in 2019-20 crop year (November-October), on good crop conditions across the country, according to the Buenos Aires Grains Exchange. The world's third largest soy producer and exporter is projected to export 8.2 million mt of soybeans in 2019-20, down 10% on the year. The country's soybean meal exports are forecast at 30.85 million mt, up 10%, while soybean oil shipment are projected at 6 million mt, up 14% year on year.
Argentina’s soybean harvest for the 2019/20 season is forecast at 53.1 million tonnes, 2.1 million tones over the estimated in October, according to the Buenos Aires Cereals Exchange. Favourable soil moisture levels in main planting areas completed earlier this month are behind the improved prospect. Conditions for oilseed and corn also remain good.