Overview
- National soybean planting stands near 4–5%, with flooding in center‑west Buenos Aires slowing fieldwork as the core region advances on saturated soils.
- Argentina’s wheat harvest has reached about 11% of area, surpassing the pace of the 2021/22 benchmark with more than 700,000 hectares cut, according to SAGyP.
- Higher international prices and revived Chinese demand have improved outlooks, and analysts consider production above 50 million tonnes plausible if weather holds.
- Soybean export duties remain at 26%, which industry leaders say restrains profitability and investment; a late‑September suspension helped push October crushing above 4.3 million tonnes, yet idle capacity persists.
- Competitive pressure is rising as Brazil targets roughly 49 million hectares of soybeans, and uncertainty lingers over a U.S.–China purchase understanding that Beijing has not formally confirmed.