The Rosario Stock Exchange (BCR) on Wednesday dramatically reduced its harvest forecasts for Argentina’s 2021-2022 corn and soybeans to 48 million and 40 million tons, respectively, due to the drought accompanied by high temperatures that a month ago it affected agricultural areas.
The new estimates are well below the 56 million tonnes that had been estimated for the corn and the 45 million that he had planned for the Soy last month.
Argentina is the second world exporter of corn and the leading global provider of oil and flour Soy. The dry conditions affecting southern South America have been in the eyes of global operators for weeks, driving international grain prices.
“Almost 30 days have gone by without significant millimeters (rains) to help: corn continues to suffer two heat strokes that have followed with barely a week of respite in between”, Described the BCR in its monthly report of crops.
According to the entity, the extreme weather has put corn sown early, which is in key stages of development, “against the ropes”, While the current Argentine corn campaign will depend on the success of late corn, which enters the development stages at the end of the austral summer.
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 lower season than that of the 2020-2021 cycle, when 52 million tons were harvested. .
Until last week, Argentine farmers had planted 77% of the area planned for corn, according to the Buenos Aires Cereal Exchange (BdeC)
Soy
Regarding soybeans, the BCR also described a gloomy outlook for the crop, which could register a drop in the planned area of implantation.
“The hydric stress of December has slowed down growth, causing flower abortion, burning of leaves, death of seedlings in the most affected areas and the abandonment of (planting) squares has begun. Concern about what may happen in the coming weeks is high“Said the Stock Exchange.
The BCR pointed out that of the 16.2 million hectares it foresees for soybeans, 300,000 hectares could be left unplanted due to the weather.
According to the Buenos Aires Cereal Exchange, until last week Argentine producers had planted 87% of the expected area for soybeans.
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