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335216

Just over 70% of Argentina's 2021/22 soybean crop sold so far - government

BUENOS AIRES, Oct 26 (Reuters) - Soybean producers sold 70.3% of Argentina's 2021/22 crop through last week, the agriculture ministry said on Wednesday.

The portion of the soybean crop sold to date underperforms the 74.2% sold during the same period in the 2020/2021 season.

Argentina, the world's top exporter of processed soy, harvested 44 million tonnes in the 2021/2022 soybean season.

Producers sold 164,900 tonnes of the harvest between October 13-18, far below the 750,000 tonnes sold in same period last year, though a temporary soy export boom last month makes comparison difficult.

After the government announced a preferential "soy dollar" exchange rate, soy exports in September jumped to 13.3 million tonnes, far above the historical monthly average of 4.4 million tonnes.

The agriculture ministry also reported that 69.4% of Argentina's 59-million-tonne corn harvest had been sold, above the 67.6% sold at the same point last year.

Corn planting for the 2022/23 cycle began last month, although drought delayed planting and contributed to the smallest planted area in six years, according to the Rosario Grains Exchange.

The exchange on Wednesday slashed its forecast for Argentina's wheat harvest to 13.7 million tonnes from 15 million. Through last week, producers sold 73,200 tonnes of the 2022/2023 season. (Reporting by Belen Liotti; Editing by Sandra Maler)

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