Argentina: Oilseeds and Products Update

Despite initial favorable conditions, Argentine oilseed crops have faced warm and dry weather across most growing regions since mid-December. Rains are needed soon to forestall more significant yield reductions. Post reduces its projected Marketing Year (MY) 2021/22 soybean production to 46.5 million metric tons (MMT), 3 MMT below USDA Official. More advanced drought conditions in Paraguay could reduce Argentine imports below the current projected 4.5 MMT, which is 300,000 metric tons below USDA Official. Argentine MY 2021/22 sunflowerseed and peanut production projections are unchanged at 3.4 MMT and 1.3 MMT respectively.