That of wheat is “a very critical scenario and one that can get worse”, said the BCR in its monthly crop report.
“In less than two weeks it is confirmed that 400,000 hectares will not be harvested. Unfortunately, this figure will continue to increase in the coming weeks,” the BCR detailed, referring to the impact of the drought that occurred on October 9.
The Stock Exchange estimated the area planted with wheat in the current campaign at 5.9 million hectares. If the production projection is met, the cereal harvest would be the lowest in seven years, when 10.9 million tons were harvested, although from a much smaller area: 3.9 million hectares.
Last season Argentina’s wheat production was a record 23 million tons.
corn and soy
Regarding corn and soybean 2022/23, the two main crops in Argentina, the BCR said that due to the drought that affects the country and that delays the sowing of the cereal, Producers could once again transfer more hectares originally intended for corn to planting soybeans.
In its report, the entity showed that producers have only planted 12% of the 8 million hectares it estimated for corn, a delay of 15 percentage points compared to the rate of implementation last year.
“Soybeans could continue adding hectares,” indicated the Stock Exchange, which foresees an area of 17 million hectares for the oilseed, whose planting begins in the coming weeks.
The BCR currently estimates a corn production of 56 million tons and a soybean production of 48 million tons.
Source: Ambito
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