Argentina new soy crop seen at 56 mln tonnes vs 58.8 mln last year

BUENOS AIRES, Jan 11 (Reuters) – Argentina farmers are expected to harvest 56 million tonnes of soy in the current season versus 58.8 million tonnes produced last year, the country’s agriculture ministry said in a presentation on Wednesday.

Soy planting, which is almost complete, has been reduced as growers seed more corn and wheat. The government has stimulated crop rotation after years of over-planting soy by eliminating wheat and corn export taxes.

The ministry estimates the corn crop at 44.51 million tonnes versus 39.8 million tonnes last year, according to the presentation to agricultural companies.

Wheat production this season is seen at 16 million tonnes versus the ministry’s previous estimate of 15.7 million tonnes, it said.

Corn planting in Argentina starts in September and ends in December, with harvesting occurring from March through June. Soy goes into the ground in October through January and the crop is brought in from March through May.

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