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Argentina raises soybean production forecast on super El Niño hopes
USDA's Foreign Agricultural Service expects 2026-27 soybean output to reach 52.5 million tonnes, with fuel costs projected to rise 24% and crop protection costs up 7%.
Argentina’s soybean production outlook for 2026-27 has been increased based on expectations for excellent yields from a developing super El Niño weather pattern, according to the US Department of Agriculture’s Foreign Agricultural Service as summarized by World Grain.
The forecast puts soybean output at 52.5 million tonnes, up 8% from the prior estimate and 4% higher than the 2025-26 crop of 50.5 million tonnes. The USDA also projects soybean area to expand partly at the expense of corn, especially in northern production areas, with concerns over corn stunt disease cited as a factor.
The report highlights cost pressures even as area is expected to rise. Input and production costs are described as a significant concern, with fuel costs forecast to increase 24% from the previous crop cycle and crop protection costs expected to rise 7%.
Soybean crush for 2026-27 is estimated at 44.8 million tonnes, noted as the second highest on record, supported by favorable global prices for soybean meal and oil, the USDA said.
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