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Argentina says ‘worried’ about flooded soy fields

Buenos Aires | Reuters — Flooding in some of the soy-growing areas of Cordoba, Entre Rios and Santa Fe provinces has become “worrying” to the government as farmers get ready to start harvesting the 2014-15 crop, the agriculture ministry said in its weekly report on Friday.

The northern part of the Pampas grains belt has been whipped by storms this month, adding to moisture left by heavy rains in February, washing out roads and flooding wide areas.

“In some cases the water level is worrying in medium- and low-lying areas,” the ministry report said.

Argentina is the world’s No. 3 soybean exporter and top supplier of soyoil and soymeal livestock feed.

The government expects a 2014-15 soy crop of 58 million tonnes, just above the 57 million tonnes forecast by the Buenos Aires Grains Exchange.

On Thursday the exchange said it will probably cut its forecast once damage from the flooding can be assessed.

Reporting for Reuters by Maximiliano Rizzi.

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