As specified, excess precipitation is observed in the provinces of Santa Fe, entre Rios and córdoba, where the cleaned oilseed is suspended about 2-3 million hectares of land.

The exact amount of the damages now yet not been determined, but experts do not exclude that the total gross harvest of soybeans in Argentina this year may not even reach 37 million tons projected earlier, significantly below the production level in the previous year (55 million tons).

It should be noted that such expected significant decrease of soybean production in the country has contributed to a significant devaluation of the Argentine peso by approximately 13%. The internal price for oil in Argentina continues to grow and as of may 8, according to Grain exchange Rosario reached 7430 thousand pesos per 1 ton. However, despite this growth, the Argentine farmers continue to hold back sales of soybeans.