Argentine corn crop forecast at 48 mln tonnes in 2021/22 – Rosario exchange

Author of the article: Argentine farmers are expected to harvest 48 million tonnes of corn in the 2021/22 season, the Rosario grains exchange said on Wednesday, a smaller harvest than previously estimated due to a drought and high temperatures in key farm areas last month. The corn harvest had been expected at 56 million tonnes.…
Argentine corn crop forecast at 48 mln tonnes in 2021/22 – Rosario exchange

Author of the article:

Argentine farmers are expected to harvest 48 million tonnes of corn in the 2021/22 season, the Rosario grains exchange said on Wednesday, a smaller harvest than previously estimated due to a drought and high temperatures in key farm areas last month.

The corn harvest had been expected at 56 million tonnes. The forecast for soy was also reduced to 40 million tonnes from 45 million tonnes.

Argentina is the world’s second-largest corn exporter and the main global supplier of soybean oil and flour.

The dry conditions affecting southern South America have been in the eyes of global operators for weeks and are disturbing international grain prices.

“Almost 30 days have gone by without significant millimeters (rain) to help: corn continues to suffer two heat strokes that have followed each other with barely a week of respite in between,” the grains exchange described in its monthly crop report.

The extreme weather has put corn planted early, which is in key stages of development, “against the ropes,” while the current corn campaign will depend on the success of late corn, which is entering stages of development at the end of the austral summer, it said.

The impact of the drought and high temperatures is such that the Rosario Stock Exchange went from forecasting a record corn harvest (56 million tons) to estimating a campaign lower than that of the 2020/21 cycle, when 52 million tons were harvested.

The grains exchange also described a gloomy outlook for soybeans, which could register a drop in the planned area of ​​implantation.

“December’s water stress has slowed down growth, causing flower abortion, leaf burning, seedling death in the most affected areas and the abandonment of (planting) fields is beginning to be abandoned,” the stock market said.

It also pointed out that of the 16.2 million hectares it foresees for soybeans, 300,000 hectares could remain unsown due to the weather. (Reporting by Carolina Pulice; Editing by Christian Schmollinger and Sherry Jacob-Phillips)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Toyota invests in EV battery production in Japan, US
Read More

Toyota invests in EV battery production in Japan, US

Author of the article: The Associated Press Yuri Kageyama TOKYO (AP) — Toyota is investing 730 billion yen ($5.6 billion) in Japan and the U.S. to boost production of batteries for electric vehicles, the Japanese automaker said Wednesday. Production is set to start between 2024 and 2026. In Japan, 400 billion yen ($3 billion) will…
INFINITI Canada Unveils Art Installation by Renowned Artist Michael Murphy to Celebrate the 2023 QX60
Read More

INFINITI Canada Unveils Art Installation by Renowned Artist Michael Murphy to Celebrate the 2023 QX60

Author of the article: INFINITI Canada Unveils Art Installation by Renowned Artist Michael Murphy to Celebrate the 2023 QX60 Business Wire Debuting at Art Toronto, the visual illusion strives to bring new perspectives and a ‘Moment of Clarity’ Advertisement 2 This advertisement has not loaded yet, but your article continues below. MISSISSAUGA, Ontario — Today,…