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Argentina soybeans 2025/26: Planting begins with better margins and yields expected

With variable forecasts and producers keeping a close eye on the weather, early soybean planting has begun in the core region. The outlook is more encouraging than last year in terms of margins, although caution remains due to international volatility and pressure from Brazil in the market.

Planting progress and regional performance

The first soybean planting already covers some 200,000 hectares in the core region. While some farmers chose to wait for the storms to pass, in areas such as Marcos Juárez, activity was intense, with 30% of the area planted. In southeastern Córdoba, producers sought to take advantage of surface moisture and early dates with high potential.

In western Buenos Aires, General Pinto has already planted 5%, while in other areas progress is slower, with priority given to waiting for the forecast rains. In Venado Tuerto, technicians warn that planting is “a bit risky,” although some producers have decided to go ahead anyway.

In total, the region has planted 7% of the 3.2 million hectares projected for early soybeans. After the next rains, a significant acceleration in the pace of planting is expected.

Stronger margins: a better outlook than last year

With an estimated yield of 4 tons per hectare (t/ha), current margins show an improvement over the previous season:

USD 97/ha on own land
USD 87/ha on leased land

According to the latest margin report dated October 20, 2025, the net profitability of premium soybeans grown on own land stands at USD 385/ha, with a harvest price of USD 311/ton. Under lease (1.8 tons/ha charged as rent), profitability falls to USD -20/ha.

At the start of the season, 75% of plots have adequate water levels, which encourages farmers to aim for yields above 4 t/ha, with the goal of reaching 5 t/ha in areas with high potential. In this scenario, profits could reach USD 556/ha on owned land and USD 152/ha on leased land.

A turbulent international context and the specter of Brazil

Despite the positive start locally, the international scenario continues to show warning signs. Futures prices remain under pressure due to the possibility of a La Niña phenomenon, which could affect the southern hemisphere during the early months of summer.

In addition, trade tensions between the United States and China and tariff policies are creating additional uncertainty. Added to this is the forecast of a record harvest in Brazil, which could reach 178 million tons, putting further downward pressure on global soybean prices.

October 23, 2025/ Rosario Stock Exchange/ Argentina.
www.bcr.com.ar