Argentina’s wheat production outlook is likely to face more cuts due to lower-than-expected yields, the Buenos Aires grains exchange said Dec. 1, as harvest advances in the midst of a prolonged drought.
In a weekly crop report, the exchange said 2022-23 wheat production, which it estimates at 12.4 million tonnes, is showing “yields below expected” as the harvest gained pace.
“If this trend continues, it could affect our current estimate,” the exchange said.
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At the beginning of May, the exchange estimated a wheat harvest of 20.5 million tonnes. Since then, drought and frosts have hit the crop hard. Argentina is a key global exporter of wheat, soy and corn.
Until Nov. 30, Argentine farmers had harvested 23 per cent of the wheat planting area, a 22 percentage point delay versus the harvest a year earlier.
The exchange added that the delayed planting of 2022-23 soybeans, estimated at 16.7 million hectares (41 million acres), was being held up by “the lack of surface humidity and high temperatures” despite some rain in recent days.
It said soybean planting was 29.1 per cent complete, but 17.2 percentage points behind the previous season overall, and more than 30 percentage points behind in some regions.
