Dry weather pushes down wheat harvest forecast in Argentina

In Argentina, the wheat harvest for the 2022/23 season is expected at 17.7 million tonnes, down from a previous estimate of 18.5 million tonnes, the Rosario Grains Exchange (BCR) said late on July 13.

The decrease comes due to a drop in the estimated planting area because of a drought in agricultural areas. The grains exchange also revised upwards its 2021/22 forecast for corn production.

Agricultural regions have suffered significant water shortages since the wheat planting season began in May. BCR now sees areas planted in wheat at 5.9 million hectares (14.6 million acres), down from 6.2 million hectares forecast in June.

Last week, the Buenos Aires Grains Exchange reduced its estimate of the sown wheat area for the fourth time since the new wheat season began, just two months ago. In May, the Buenos Aires exchange estimated a planted area of 6.6 million hectares, and now it expects 6.2 million hectares.

BCR also adjusted its 2021/22 corn crop estimate to 51 million tonnes from a previous estimate of 49.2 million tonnes. Farmers have hauled in 85% of the area sown with the grain.

Argentina is a major world supplier of wheat and the second-largest exporter of corn.

Source: Money Times

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