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Argentina's 04-05 Soybean Area Seen At 14.7-14.8 M
calendar05-10-2004 | linkDow Jones | Share This Post:

04/10/04 BUENOS AIRES, (Dow Jones)--Argentina's farmers probably willplant between 14.7 million and 14.8 million hectares of 2004-05 soybeans,the Buenos Aires Cereals Exchange said Monday.This would put planted area up from 14.5 million hectares a yearearlier, according to exchange data."The oilseed's planted area could show more growth, though not at thesame annual rate seen in previous years," the exchange said. "This seasonarea could accumulate another 200,000 to 300,000 hectares in addition towhat was planted the previous year."The exchange said several factors will have an influence over the sizeof planted area this year."Among others, the most worrisome are the local climate and the dangerof an expansion of Asian rust," the exchange said.However, the exchange noted that a severe lack of humidity ishindering the progress of such already-planted crops as corn and wheat. Ifthe excessively dry weather continues, farmers may decide to convert someof the area dedicated to these crops into soybean fields.Argentine farmers produced 32.2 million metric tons of soybeans in2003- 04, according to the exchange.The U.S. Department of Agriculture has estimated 2004-05 soybeanoutput at 39 million tons. This forecast is based on the assumption thatfarmers will plant 14.2 million hectares and that the average yield willhover around 2.75 tons per hectare.