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[Argentina's soybean sales hit ten-year lowcryptogamelikeaxieinfinityFarmers hope prices will return to warmer]
On May 20, according to international media information, farmer Adrian Farroni, located in the agricultural town of Pegamino in Argentina, was racing against time to harvest soybeans. Continuous rainfall and depressed market prices have reduced Argentina's soybean sales to the lowest point in the past ten years. Official data revealed that so far, Argentine farmers have sold only 31% of their expected soybean production, a sales rate that hit a new low since 2014/15.
Farroni revealed that soybean harvesting usually starts in April, but the continuous rain has allowed them to work only two days a week and have to stop working the rest of the time. So far, they have only harvested 61% of the soybean planting area, which is lagging behind the level of the previous year's drought period.
Dante Romano from the Rosario Agricultural Center at the University of Australia pointed out that poor weather conditions and sluggish selling prices have caused soybean sales to stall. He estimates that only 12% of the soybean harvest is currently traded, which is only half the average annual rate.