Rosario Stock Exchange reduces wheat output estimate to 11.5 mln t

The Rosario Stock Exchange reduced its wheat output estimate for 2022/23 in Argentina to 11.5 million tonnes.

The new figure represents a reduction of 300 thousand tonnes from the November forecast of 11.8 million tonnes.

If confirmed, wheat output will be 50% lower than in 2021/22, which reached 23 million tonnes.

See below the track record – in terms of TEUs – the wheat (hs 1001) exported from Argentina between Jan 2019 and Sep 2022. The data is from DataLiner.

Wheat exports from Argentina | Jan 2019 – Sep 2022 | TEUs

Source: DataLiner (click here to request a demo)

According to the exchange, the estimate has been reduced due to yield drops in Córdoba, Buenos Aires, and Santa Fe.

Much of this drop, however, was offset by higher productivity in Entre Ríos.

“If it weren’t for Entre Ríos, national production would be around 11 million tonnes,” the exchange said.

The national average yield estimate is 2,300 kilograms per hectare, the lowest level since 2010.

Source: Money Times

To read the full original article, please access: https://www.moneytimes.com.br/trigo-argentina-bolsa-de-rosario-reduz-estimativa-de-producao-para-115-mi-de-t/

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