--- title: Further cuts to Argentinian soybean crop estimates drive soybean prices higher description: The Rosario Board of Trades (BCR) in its latest report, released 12th April, cut the Argentinian soybean crop to 23 million metric tonnes, 14.8% lower compared to estimates reported in March. Consequently, the CBOT soybean futures price settled at USc 1,504.2/60 lbs bushel on 12th April, 0.5% higher than the previous day’s settlement. image: https://www.mintecglobal.com/hubfs/Fotolia_89517400_S_soybeanplan-Apr-13-2023-02-45-32-0908-PM.jpg --- [![Mintec_by_expana_white](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Reversed_RGB-3.png?width=145&height=55&name=Mintec_Logo_Small_Use_Reversed_RGB-3.png "Mintec_by_expana_white")](https://www.mintecglobal.com) [![Mintec_by_expana_dark](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Mono_RGB%20(2).png?width=145&height=54&name=Mintec_Logo_Small_Use_Mono_RGB%20(2).png "Mintec_by_expana_dark")](https://www.mintecglobal.com) - ![Flags](https://cdn2.hubspot.net/hubfs/4080606/flag-button-round-250.png) ** - [![Dutch](https://f.hubspotusercontent00.net/hubfs/4080606/dutch-01-1.png)](https://translate.google.com/translate?hl=&sl=en&tl=nl&u=www.mintecglobal.com) - [![Finnish](https://f.hubspotusercontent00.net/hubfs/4080606/Finnish-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=fi&u=https%3A%2F%2Fwww.mintecglobal.com) - [![French](https://cdn2.hubspot.net/hubfs/4080606/France-1.png)](https://www.mintecglobal.com/french) - [![German](https://cdn2.hubspot.net/hubfs/4080606/Germany-1.png)](https://translate.google.com/translate?hl=&sl=en&tl=de&u=www.mintecglobal.com) - [![Italian](https://cdn2.hubspot.net/hubfs/4080606/Italy-1.png)](https://www.mintecglobal.com/italia) - [![Norwegian](https://f.hubspotusercontent00.net/hubfs/4080606/Norway-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=no&u=www.mintecglobal.com) - [![Portuguese](https://f.hubspotusercontent00.net/hubfs/4080606/portugal-01.png)](https://www.mintecglobal.com/portugal) - [![Russian](https://f.hubspotusercontent00.net/hubfs/4080606/russian-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=ru&u=www.mintecglobal.com) - [![Spanish](https://cdn2.hubspot.net/hubfs/4080606/Spain.png)](https://www.mintecglobal.com/espana) - [![Swedish](https://f.hubspotusercontent00.net/hubfs/4080606/swedish-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=sv&u=www.mintecglobal.com) - [![SIGN IN](https://no-cache.hubspot.com/cta/default/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204) - [![GET STARTED](https://no-cache.hubspot.com/cta/default/4080606/885beebf-1311-41e6-90cc-01c1a0614f69.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/885beebf-1311-41e6-90cc-01c1a0614f69) [![Mintec_by_expana_white](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Reversed_RGB-3.png?width=145&height=55&name=Mintec_Logo_Small_Use_Reversed_RGB-3.png "Mintec_by_expana_white")](https://www.mintecglobal.com) [![Mintec_by_expana_dark](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Mono_RGB%20(2).png?width=145&height=54&name=Mintec_Logo_Small_Use_Mono_RGB%20(2).png) ](https://www.mintecglobal.com/) - EN ** - [NL](https://translate.google.com/translate?hl=&sl=en&tl=nl&u=www.mintecglobal.com) - [FI](https://translate.google.com/translate?hl=&sl=en&tl=fi&u=https%3A%2F%2Fwww.mintecglobal.com) - [FR](https://translate.google.com/translate?hl=&sl=en&tl=fr&u=www.mintecglobal.com) - [DE](https://translate.google.com/translate?hl=&sl=en&tl=de&u=www.mintecglobal.com) - [IT](https://translate.google.com/translate?hl=&sl=en&tl=it&u=www.mintecglobal.com) - [NO](https://translate.google.com/translate?hl=&sl=en&tl=no&u=www.mintecglobal.com) - [PT](https://translate.google.com/translate?hl=&sl=en&tl=pt&u=www.mintecglobal.com) - [RU](https://translate.google.com/translate?hl=&sl=en&tl=ru&u=www.mintecglobal.com) - [ES](https://translate.google.com/translate?hl=&sl=en&tl=es&u=www.mintecglobal.com) - [SV](https://translate.google.com/translate?hl=&sl=en&tl=sv&u=www.mintecglobal.com) - [![SIGN IN](https://no-cache.hubspot.com/cta/default/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204) - [![GET STARTED](https://no-cache.hubspot.com/cta/default/4080606/885beebf-1311-41e6-90cc-01c1a0614f69.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/885beebf-1311-41e6-90cc-01c1a0614f69) ![](https://px.ads.linkedin.com/collect/?pid=1609690&fmt=gif) # Further cuts to Argentinian soybean crop estimates drive soybean prices higher [back to insight ](https://www-mintecglobal-com.sandbox.hs-sites.com/our-insight-2018) April 13, 2023 1 mins read The Rosario Board of Trades (BCR) in its latest report, released 12th April, cut the Argentinian soybean crop to 23 million metric tonnes, 14.8% lower compared to estimates reported in March. Consequently, the CBOT soybean futures price settled at USc 1,504.2/60 lbs bushel on 12th April, 0.5% higher than the previous day’s settlement.   Prolonged dryness in Argentina, a key soybean producer, continued to result in reductions to its domestic crop estimates by various agencies. On 11th April, the USDA, in the latest WASDE report, reduced Argentinian soybean crop estimates by 18.2% m-o-m, to 27 million metric tonnes and close to trade estimates. While the cuts to the Argentinian crop strengthened bean prices, further upward price momentum has been limited by the record Brazilian crop (+18% y-o-y), which was revised upwards by the USDA to 154 million metric tonnes, 0.7% higher than the previous month's estimate. The Brazilian soybean harvest, which has reached 81% completion, coupled with its discounted basis, according to market sources, has increased buying pressure from Brazil. However, Argentinian soybean sales have been limited, despite the implementation of the country’s new ‘soy dollar’ preferential exchange, as reported by Mintec [here](https://www.mintecglobal.com/top-stories/argentinian-government-plans-new-soy-dollar-to-boost-exports-amid-poor-crop-output), as farmers are holding on to stock due to low output. A Mintec source stated, “there has not been much engagement from buyers yet. Exporters are out and crushers are waiting for margins to improve. It is all about Brazil now.” Topics: [Oilseeds, Oils & Fats](https://www.mintecglobal.com/top-stories/tag/oilseeds-oils-fats) ![Roxanne Nikoro](https://app.hubspot.com/settings/avatar/68bb9b7158fe49a49091bbd136f9a915) Roxanne Nikoro [## PRICE FORECASTING ## ![Mintec_logo_secondary_light](https://www.mintecglobal.com/hs-fs/hubfs/Redesign2018/Logos/Mintec_logo_secondary_light.png?width=120&name=Mintec_logo_secondary_light.png) Strengthen your buying strategy, control exposure to price risk Deliver future price predictions and hedging recommendations, by identifying key turning points and commodity trends.   LEARN MORE ](https://www.mintecglobal.com/forecasting) #### /You May Also Like ![Featured Image](https://www.mintecglobal.com/hubfs/Trade%20boat%20at%20the%20port%20of%20Miami-1.jpeg) [ANALYSIS: Black Sea Wheat Exports Face Logistical and Weather Challenges](https://www.mintecglobal.com/top-stories/analysis-black-sea-wheat-exports-face-logistical-and-weather-challenges) Grain markets in the Black Sea region are entering the second half of... January 27, 2026 ![Featured Image](https://www.mintecglobal.com/hubfs/Wheat%20field-Jan-19-2026-11-37-44-9508-AM.jpeg) [ANALYSIS: Euronext wheat slides as USDA reinforces global supply surplus](https://www.mintecglobal.com/top-stories/analysis-euronext-wheat-slides-as-usda-reinforces-global-supply-surplus) Euronext milling wheat futures extended losses over the past week,... January 19, 2026 ###### PLATFORM ## Mintec Analytics The spend intelligence you need, about the food products you buy, all in one place.  [![FREE TRIAL](https://no-cache.hubspot.com/cta/default/4080606/9e6aba24-3280-4c09-b0f8-14b8b3680071.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/9e6aba24-3280-4c09-b0f8-14b8b3680071) ![](https://px.ads.linkedin.com/collect/?pid=1609690&fmt=gif) CONTACT DETAILS - UK +44 1628 642498  - USA +1 732 240 5330 - ![LinkedIn logo](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/linkdin.svg) [Mintec Ltd](https://www.linkedin.com/company/mintec-ltd/) HEAD QUARTERS Gloucester House Unit Q, Bourne End Business Park, Bourne End, SL8 5AS UK CONTACT DETAILS - ![envelope email](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/mail%20icon.svg)[ sales@mintecglobal.com](mailto:sales@mintecglobal.com) - ![envelope email](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/mail%20icon.svg)[ pra@mintecglobal.com](mailto:pra@mintecglobal.com) - ![envelope email](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/mail%20icon.svg)[ support@mintecglobal.com](mailto:support@mintecglobal.com) -   - ![LinkedIn logo](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/linkdin.svg) [Mintec Ltd](https://www.linkedin.com/company/mintec-ltd/) - ![Twitter logo](https://www.mintecglobal.com/hubfs/2019%20Mintech%20websites/Images/Header/twitter%20icon.svg) [@MintecLimited](https://twitter.com/MintecLimited)   ##### ** NEW YORK         •         LONDON         •         PARIS         •         COPENHAGEN **** **     - ![European Business Awards logo](https://www.mintecglobal.com/hubfs/EBA-1.svg) - ![FDA_a](https://www.mintecglobal.com/hubfs/FDA_a.svg) - ![WPA-2](https://www.mintecglobal.com/hubfs/WPA-2.svg) - ![WPA_US](https://www.mintecglobal.com/hubfs/WPA_US.svg) - ![ISO](https://www.mintecglobal.com/hubfs/ISO.svg) - ![iosco badge3](https://www.mintecglobal.com/hubfs/iosco%20badge3.svg)     ##### ** NEW YORK LONDON ****PARIS COPENHAGEN **** **     - [Cookie Policy](https://www.mintecglobal.com/cookie-policy) | - [Privacy Statement](https://www.expanamarkets.com/wp-content/uploads/2025/10/Privacy-Policy-November-2025_FINAL.pdf?utm_source=mintec&utm_medium=referral&utm_campaign=always-on-mintec-referral) | - [Terms & Conditions |](https://www.mintecglobal.com/terms-and-conditions) - [Modern Slavery Statement](https://www.expanamarkets.com/wp-content/uploads/2025/09/Modern-Slavery-Statement-SEPT-2025.pdf?utm_source=mintec&utm_medium=referral&utm_campaign=always-on-mintec-referral) Copyright © 2026 Mintec Limited - [Cookie Policy](https://www.mintecglobal.com/cookie-policy) | - [Privacy Statement](https://www.expanamarkets.com/wp-content/uploads/2025/10/Privacy-Policy-November-2025_FINAL.pdf?utm_source=mintec&utm_medium=referral&utm_campaign=always-on-mintec-referral) | - [Terms & Conditions |](https://www.mintecglobal.com/terms-and-conditions) - [Modern Slavery Statement](https://www.expanamarkets.com/wp-content/uploads/2025/09/Modern-Slavery-Statement-SEPT-2025.pdf?utm_source=mintec&utm_medium=referral&utm_campaign=always-on-mintec-referral) Copyright © 2026 Mintec Limited