BUENOS AIRES (Reuters) — Argentina will produce a record 55 million tonnes of soybeans this year, Agriculture Minister Carlos Casamiquela told local radio on Tuesday, an increase from the country’s earlier estimate of 54 million tonnes.
“The harvest this year will be 55 million tonnes,” Casamiquela told Radio Del Plata, citing the ministry’s latest crop data.
Last week, the government held its 2013-14 soybean crop estimate steady at 54 million tonnes while the Rosario grains exchange increased its projection to 54.9 million tonnes from 54.7 million, saying higher-than-expected yields in Cordoba province have counter-balanced rain-related yield losses in other areas.
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Sunny weather in the Pampas farm belt over the last week has allowed soy growers to speed up harvesting after delays caused by an extremely rainy early April, with continued dryness over the days ahead expected to help maintain good momentum.
Growers had been concerned that heavy storms early this month would hurt yields and render substantial areas unharvestable. The recent dry spell, which is expected to continue into next week, has eased those worries and much of the country’s early-planted 2013-14 soy has already been collected.
