Argentina corn output seen below 48 mln tns amid severe Drought -Exchange

Argentina’s 2021/22 corn crop is now expected to total less than 48 million tonnes, the major Rosario grains exchange said on Friday, as a severe drought slashed yields in the South American agricultural powerhouse.

The exchange — which is headquartered in one of the world’s largest grain export hubs — cut its forecast for the corn crop in the country’s important core farming region by 1.5 million tonnes to 12.8 million tonnes.

It had previously expected Argentina’s main agricultural zone to harvest 19.2 million tonnes of corn this season. The exchange also said that new revisions are not yet ruled out.

“The harvest is confirming just how violent the unusual weather impact was. This week’s estimate shows that 33% of the initially expected output was lost,” the Rosario grains exchange said late on Thursday.

Corn yields are expected to reach their lowest level in 10 years due to the lack of rain and high temperatures seen in late December and early January, it said.

Argentina’s soybean output, which was also hit by drought, was estimated at 40.5 million tonnes this season.

The South American country is the world’s largest exporter of soymeal and soyoil, and the second largest corn exporter.

Source: Money Times

To read the full original article, please see:

https://www.moneytimes.com.br/producao-de-milho-da-argentina-deve-ficar-abaixo-de-48-mi-t-em-meio-a-seca-diz-bolsa/

Sharing is caring!