L2B Futures March 26, according to foreign media reports, Argentina’s Ministry of Agriculture stated that Argentina’s soybean crushing volume in February 2024 was 2.354 million tons, an increase of 10.5% from 2.13 million tons in January, setting the highest value since July last year. . Compared with the crushing volume of 1.554 million tons in February 2023, the crushing volume in February this year increased by 51.5% year-on-year. In February, Argentina’s soybean oil production reached 466,094 tons, higher than January’s 418,862 tons; soybean meal production was 1,716,184 tons, higher than January’s 1,555,547 tons. In December last year, Argentina’s soybean oil production was 373,602 tons, and its soybean meal production was 1,362,098 tons. Argentina’s soybean crushing volume in 2023 will be 27.14 million tons, far lower than the 38.46 million tons in 2022, because last year suffered the most severe drought in sixty years, causing soybean production to be halved.