Argentina harvested 39.7 million tonnes of soyabeans in early 2012. Oil World still forecasts Argentina’s 2013 soyabean crop at 48.5 million tonnes. Heavy rains interrupted soyabean harvesting in Argentina’s south and central grains belt over the past week, the Buenos Aires Grains Exchange said on Thursday.
Large Argentine and Brazilian soyabean crops now being harvested are urgently needed by global consumers following tight supplies in past months following a poor US harvest in 2012 and record high soyabean prices in September last year. But South American new crop exports are still being hampered by transport and port loading problems, despite hopes that larger shipments were on the way, Oil World said. “The volumes of new crop soyabeans and products from South America are still insufficient to satisfy world demand, primarily owing to the logistical bottlenecks in Brazil,” Oil World said.