Source: Ukragroconsult (Ukraine)
Argentina’s soybean harvest, the country’s most important cash crop, is estimated at 52 million tons for the 2024/25 season, the Buenos Aires Grain Exchange announced on Wednesday.
The exchange also estimated that the South American country’s corn crop in the 2024/25 season will be 47 million tons and the wheat crop 18.6 million tons.
LSEG has lowered its wheat forecast for Argentina due to unfavorable conditions
Lack of moisture combined with unfavorable heat in the south of Buenos Aires province, Argentina’s main wheat producer, has forced the LSEG to lower its grain forecast for 2024-2025 again by 1% to 17.2 million tons.
“Some areas in the Pampas have received some rain in the last two weeks, but the overall amount has generally been disappointing, with most of the main producing regions receiving well below average rainfall,” LSEG said in its report.
While short-term weather forecasts point to better rainfall prospects and cooler temperatures, it is unlikely that the current low soil moisture levels will recover in the short term, particularly in southern Buenos Aires.
“Yield potential is likely to continue to decline as plants enter the critical stages of development: Hatching and flowering under severe moisture deficits.