Argentina's Rosario exchange trims 2023/24 wheat harvest forecast

The crop's harvest begins in November and ends in January. The exchange maintained its production estimates for its 2023/24 soybean and corn crop harvests at 48 million and 56 million tons, respectively.

Argentina's wheat harvest for the 2023/24 season is seen at 15 million metric tons, down from 15.6 million tons previously estimated, the Rosario grains exchange said on Wednesday, as the country's agricultural areas strain under dry conditions.

Although abundant rainfall has fallen so far this month in the center and east of the country, the same is not the case for western and northern agricultural areas, which are under drought conditions, the exchange said in its monthly grains report. Argentina is a key global wheat exporter, and its farmers are trying to recover from a disappointing 2022/23 season, which suffered severed losses due to a historic drought that cut the harvest by 50% year-on-year to 11.5 million tons.

Wheat in Argentina is currently in the stages of defining yields in much of its agricultural areas. The crop's harvest begins in November and ends in January. The exchange maintained its production estimates for its 2023/24 soybean and corn crop harvests at 48 million and 56 million tons, respectively.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)