July 13th, according to media reports, the Rosario Grain Exchange said in a report published on Wednesday that it has lowered its forecast for Argentina’s wheat production by about 4% because of insufficient rainfall in some agricultural production areas of the country.
The exchange estimates Argentina’s wheat production in 2023/24 will be 15.6 million tonnes, down from a previous forecast of 16.2 million tonnes.
The country’s wheat crop is usually planted in May and harvested in January. The country’s soybean production in 2022/23 is expected to be 20 million tonnes, down about 2 percent from its previous forecast of 20.5 million tonnes, the exchange said in its monthly report.
The report said wheat area in 2023/24 fell by about 200,000 hectares to 5.4 million hectares. If there were no recent rains, the forecast decline in wheat production would be even greater.
The exchange left its forecast for the country’s 2022/23 corn production unchanged at 32 million tonnes.
