Argentine Soybean Sales Reach Nearly 41% of Current Crop

The pace of soybean sales in Argentina accelerated at the beginning of June, according to official data released on Tuesday, bringing the total sold so far to 20.2 million metric tons, or 40.7% of the expected crop.

The country recorded sales of about 930,300 tons of soybeans between May 30 and June 5, according to the data, marking the fastest sales pace in about two years.

Farmers in the South American nation, a major global producer, are expected to harvest a total of 49.7 million tons of soybeans — the country's main commercial crop — during the current 2023/24 season, with approximately 94% of the harvest completed as of last week, according to the data.