Argentina's Buenos Aires Grain Exchange may cut soybean production

(agricultural Wealth Network) Buenos Aires Grain Exchange of Argentina said at the Argentine Agricultural and Industrial Conference that due to dry weather in parts of Argentina, the soybean planting area this year may be lower than the earlier forecast of 19 million hectares.

'We are likely to maintain our forecast in the November 11 report, but the drought over the next 15 days will be closely watched, and if the situation does not improve, then the acreage data may be revised down, 'the exchange said.

Last week, the Buenos Aires Grain Exchange in Argentina estimated the sown area of soybeans at 19 million hectares, which would be an all-time high.

Argentine farmers usually start planting soybeans in September and start harvesting in February of the following year. In 2009, soybeans were severely damaged by the worst drought in a century, with an output of only 32 million tons.

The dry weather in La Pampa and Corba, as well as in Santa Fe and Buenos Aires, is worse than previously expected.