Source: APKinform (Ukraine)
Analysts at the Rosario Grain Exchange forecast that Argentina’s total grain and oilseed production will reach 143.2 million tons in the 2024/25 marketing year under normal weather conditions, an increase of 9% compared to the previous year.
Including the expected soybean harvest of 52.6 million tons (50 million tons in the previous season), oilseed acreage could increase by 8% year-on-year, partly due to a 21% reduction in the country’s corn acreage. However, the gross maize harvest could increase to 52 (49.5 million tons). The wheat harvest is also expected to reach 20.4 (14.5) million tons on an area of 6.7 million hectares.
For other crops, the barley harvest is estimated at 5.2 million tons, the sorghum harvest at 3.2 million tons and the sunflower harvest at 4.2 million tons.
At the same time, total exports of these crops could rise to the maximum of the last four years – 101.5 million tons (87.9 million tons in the 2023/24 marketing year).
However, stock market analysts assume that the total production of cereals and oilseeds will be closer to 128.8 million tons under conditions of lower than expected rainfall.