Argentine stock exchange estimates wheat crop at 22.1m tons

On Wednesday, the Bolsa do Rosário raised its estimate for Argentina’s 2021/22 wheat crop to 22.1 million tons, citing higher-than-expected productivity as a reason to increase the previous estimate of 20.4 million tons.

“Average yields are amazing. The lack of water and the October heat, which were so worrying, did not harm the harvest”, said the exchange in its monthly crop report.

“The potential for productivity was so high this year, that even with losses of 10% to 30% due to lack of rain, yields are among the best recorded in the last five years,” added the exchange.

Argentina is a major wheat exporter, with most international shipments destined for neighboring Brazil.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/safra-de-trigo-da-argentina-estimada-em-221-mi-t-diz-bolsa/

Sharing is caring!