Both, Brazil and Argentina are likely to harvest record soybean in 2014/15. Argentina’s area under soybean is reported around 20.4 million hectares and expected to produce 54.5-55 million tonnes of soybean.
Besides, Brazil’s 2014/15 soybean production estimates vary from record 93.9 - 95.5 million tonnes. Analyst Safras and Mercado have trimmed the Brazil’s soybean out to 95 million tonnes from 95.9 million earlier.
Argentina’s soybean production is estimated record-high at 57 million tonnes in the 2014-15 season, the Buenos Aires Grains Exchange forecast in its first harvest forecast for 2014/15.
Farmers in the Pampas grains belt will start harvesting soy in the month of March. Argentina’s highest production to date stood at 55 million tonnes, harvested in the 2009-10 season.
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