Drought-struck Argentina sees fresh cuts to soy, corn forecasts

Argentina’s Buenos Aires grains exchange, on March 09, further cut its estimates for the season’s corn and soybean harvests, as a devastating drought impacts the major grains exporter’s main agricultural region.

The exchange now expects a 2022/2023 soybean harvest of 29 million tonnes, down from the 33.5 million tonnes previously estimated. Corn output is now forecast at 37.5 million tonnes, down from previous forecasts of 41 million tonnes.

In a weekly crop report, the exchange said another week of high temperatures was generating additional losses, as well as losses to the size of the area which could be harvested.

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