Argentina could report a record corn production in the 2025/26 season as farmers shift away from soybeans and other crops, a leading grains exchange said on Wednesday.

The Rosario grains exchange forecasts the coming corn crop to yield an output of 61 million metric tons, provided the crop experiences normal rainfall during its growth cycle.

At the same time, the exchange projected that soybean planting will fall 7% year-on-year to 16.4 million hectares, with production expected to reach 47 million tons.

Earlier on Wednesday, the Buenos Aires Grain Exchange also projected a decline in soybean area, though smaller, estimating a 4.3% drop to 17.6 million hectares – due mainly due to farmers opting for other crops such as corn and sunflower, adding that soybean profitability remains low or even negative in some regions.

Argentina’s previous record corn harvest was 52.5 million tons in 2023/24, according to Rosario.

The exchange said its record forecast depends on normal rainfall during the crop’s development period. Current weather models indicate low chances of El Nino or La Nina during the southern summer, a favorable outlook for corn yields.

Planting for the 2025/26 corn crop has already begun, while soybean planting will start in late September and October.

Rosario also raised its estimate for the almost completed 2024/25 corn harvest to 50 million tons, up from 48.5 million last month. Argentina is the world’s third-largest corn exporter and the leading global supplier of soybean oil and meal.
Source: Reuters