Frost destroys 0.5 mil mt of Argentinian soybeans: BCR

Frost has eaten away 500,000 mt of Argentinian soybeans from the projected 40 million mt in the 2021-22 crop year (November-October), the Rosario Grains Exchange, or BCR, said April 14, stoking supply concerns.

BCR sees extensive frost damage, particularly to the second crop beans, following a review of crop conditions in the country's central parts -- the prime soybean producing region.

The early frost has reduced second-class soybean yield by almost 15%, BCR said, implying a reduction of half a million mt in crop production in the central regions. Soybean production in the region would fall 12% year on year to 12.7 million mt, BCR said.

Frost in Argentina typically occurs after the beans harvest is finished. The weather phenomena happened well ahead of schedule this year, with the second soybeans still maturing.

The country's north of La Pampa-west of Buenos Aires region is already under drought since November, and the frost has made matters worse for the Argentinian soybean crop. Output expectations for the 2021-22 crop year are well below early season forecast of 47 million-49 million mt and last year's output of 45 million mt.

The Buenos Aires Grains Exchange, or BAGE, still projects 2021-22 soybean output at 42 million mt.

BAGE estimated that 14.4% of the projected acreage of 16.1 million hectares for 2021-22 had been harvested amid dry weather as of April 13, up 7.1 percentage points year on year.