Argentine soy processors crushed the lowest volume of beans in 19 years in 2023, as record bean imports failed to compensate for a dismal harvest ruined by drought, the Rosario Board of Trade reported on Monday.

Last year’s crush volume was just 27 million tonnes, down from 38 million in 2022, according to the board’s estimates. To make up for the paltry volumes coming in from Argentina’s parched fields, far more soybeans were imported: 10.4 million tonnes, the highest on record, compared with 3.3 million tonnes in 2022.

Soy crushing is the process by which soybeans are turned into oil and meal.........

© Buenos Aires Herald