Low Production of Argentinian Wheat is Expected in the 2022-2023 Season

The 2022-2023 Argentinian wheat campaign is forecasted to be one of the worst in decades. The original estimates were that the production would reach 20M tons, but the forecast in November dropped to 13M tons, with the possibility of dropping further to 11-12M tons. The production estimate worries producers as the signed export contract for the upcoming season surpass 10M tons, and 6.5M tons are needed for local consumption. This means that at the current forecasts, Argentina could need to import wheat to cover demand or not be able to fulfill all contracts.