Nov. 10 (Bloomberg) -- Argentina’s soybean growers may plant less than the forecasted 19 million hectares because of drought in parts of the world’s third-largest producer, the president of the Buenos Aires Cereals Exchange said.

“We will probably maintain our forecast in tomorrow’s estimate, but will be following the drought closely over the next 15 days and may revise it downwards if the situation doesn’t improve,” Ernesto Crinigan said today in an interview in Rosario, during the Argentine Agroindustrial Conference.

Last week the Cereals Exchange estimated that farmers will plant 19 million hectares (51 million acres) in the 2009-2010 season, in what would be an all-time record crop. The Cereals Exchange releases weekly estimates on Wednesdays.

Sowing of soybeans in Argentina takes place from September through January. Harvesting starts in February. The 2009 harvest was devastated by the worst drought in a century, which reduced the crop to 32 million metric tons.

“Drought in La Pampa and Cordoba provinces and in western parts of Santa Fe and Buenos Aires provinces are worse than were originally expected,” Crinigan said.

To contact the reporter on this story: Rodrigo Orihuela in Buenos Aires at rorihuela@bloomberg.net.

Last Updated: November 10, 2009 17:30 EST