Soybean Area in Argentina - 14/15 campaign
You're probably busy with your labors, but you might be interested in knowing that we have the first estimates for soybean's plated area for this next campaign in Argentina.
The Buenos Aires Grains Exchange released a pre-campaing report stating that the area used for soybeans would increse 1.2% from last year's 20.35M hectares, reaching 20.6M hectares (50.9M acres if I got the math right). If this comes to happen, I'll be a new record for soybean planted area.
Though some areas like the northwestern part of the country and west of the productive area (mostly Cordoba) are a bit dry, which would reduce total planted land, the fact that soybeans need less incial investments compared with corn and sunflower and it's easier to trade (in our country) than those other commodities will lead to more hectares being switched to soy.
There are no official estimates regarding total production, but with this much area, the 57M tons announced last week by the USDA's attache don't seem so far fetched.