The Buenos Aires Cereal Exchange has updated its soybean production estimate lowering to 51 million metric tons through a total planted surface of 44.4 million acres. In different regions of the country, the situation is considered adverse. Nearly 34.6% of the field are considered by the Exchange to have a regular or bad condition, while 53% are under regular or dry prospects. Approximately 31.5% of the surface is at the stage that defines yields.
The short-term perspectives do not foresee any relieve in terms of weather. The estimate is down from the 54 million metric tons published in September of 2017. There was planting incorporation that still was not counted in this latest estimate by last week in the Northern parts of the country.
The early fields start to transit the reproductive stages awaiting for the beginning of the harvest in the coming weeks.