Following are selected highlights from a report released on Wednesday by the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service post in Buenos Aires:
“Post lowers marketing year (MY) 2023/2024 (soybean) production to 49.5 million metric tons (MMT), still nearly double last year’s crop, based on a stretch of dry and hot weather in the major production areas despite previous ideal rains following planting. Argentina’s soy crush was up 12 percent in January 2024 despite low stocks due to the disastrous crop the previous year. Sunflower production in MY2023/2024 is revised down to 3.5 MMT on lower planted area and yields.”