Argentine wheat crop most delayed in a decade amid drought, exchange says

Argentina’s wheat crop for the 2022/23 season is the country’s most delayed in a decade, as a period of drought and coming frosts force farmers to put planting off for better conditions, the Rosario Grains Exchange reported Thursday, June 30.

The announcement came a day after the Buenos Aires Cereal Exchange said it could again cut its estimate of the area that will be planted with wheat in the 2022/23 season, currently at 6.3 million hectares, if in the short-term rains do not bring relief to agricultural areas suffering from dry conditions.

A downgrade in the exchange’s estimate would be the entity’s fourth since May.

Argentina is the world’s fifth-largest exporter of wheat, moving up one position in the ranking prepared by the U.S. government due to a sharp drop in the forecast for Ukraine’s cereal exports due to the war with Russia.

Source: Financial Post

To read the full original article, please go to: https://financialpost.com/pmn/business-pmn/argentine-wheat-crop-most-delayed-in-a-decade-amid-drought-exchange-says

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