(Updates with comments from association president starting in third paragraph.)
Sept. 12 (Bloomberg) -- Argentine soybean farmers, the world’s third-largest oilseed producers, may boost planting by 2.7 percent this season amid slower growth in corn plantings, said the president of the country’s soybean association, Acsoja.
Soybean planting will grow by about 500,000 hectares (1.23 million acres), Acsoja President Miguel Calvo said in a telephone interview from Buenos Aires today. The increased planting will primarily occur outside the country’s main growing areas, he said.
“Conditions are very favorable,” Calvo said. “The area will probably grow a bit more. It’s not the best time in terms of rain. Maybe the biggest uncertainty is what’s going to happen with the weather.”
The Buenos Aires Cereals Exchange said on Sept. 8 that a lack of rain in the main growing regions is threatening planting of corn and the growth of the wheat crop. A smaller-than- expected increase in corn planting may provide a larger area in which to sow soybeans, according to Calvo.
Still, dry weather may hinder the growth of the crop, he said.
Argentine farmers produced 18.25 million hectares of soybeans in the 2010-2011 season, according to the Buenos Aires Cereals Exchange.
The U.S. and Brazil are the world’s first- and second- largest soybean producers.
--Editors: Robin Saponar
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