HAMBURG, June 19 (Reuters) - Argentine and Brazilian farmers are likely to expand soybean plantings at the expense of grains for their 2013 crop because of higher profits from the oilseed, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"Farmers in South America are getting more enthusiastic about expanding soybean cultivation, taking advantage of the comparatively lower production costs in relation to grains and favourable price prospects," Oil World said.
"Many of them have already started marketing their 2013 crops seven to nine months ahead of harvest in an effort to benefit from the current attractive prices."
The United States is the world's largest soybean producer followed by Brazil and Argentina, but Argentina is the largest soymeal and soyoil exporter.
Argentine farmers are likely to plant 19.60 million hectares of soybeans for the 2012/13 crop for harvesting in early 2013, up from 18.53 million being harvested in 2012, Oil World estimated.
Argentine farmers are likely to reduce 2012/13 wheat plantings to 3.60 million hectares from 4.63 million this season, but also raise 2012/13 corn sowings to 5.10 million hectares from 4.96 million, it said.
"Under favourable weather conditions, the Argentine soybean crop could reach a record 54.5 to 55.5 million tonnes in 2013," Oil World said.
Oil World repeated its forecast that Argentina's 2012 soybean crop will fall to or slightly below 40 million tonnes. [ID:nL5E8GT5RI] The Argentine government estimates 41.5 million tonnes. [ID:nL1E8HFIW0]
Brazilian farmers are likely to plant 26.40 million hectares of soybeans for harvesting in 2013, up from 25.04 million hectares harvested this year, Oil World said.
Brazil's farmers are likely to plant 14.40 million hectares of corn for the 2013 crop, down from 15.12 million hectares harvested this year, it said.
This year's Brazilian winter corn harvest is set to reach a record size, leading to a build-up of burdensome stocks despite high exports to China, and so reducing the attraction of the grain to farmers, it said.
