Argentina's wheat crop forecasts fall again on worrying weather

Published 2022년 10월 13일

Tridge summary

Argentina's 2022/23 wheat crop is projected to yield around 16 million tonnes, a decrease of 500,000 tonnes from the previous year due to drought and frost, making it the smallest harvest in seven years. Both the Rosario Stock Exchange and the Buenos Aires Grain Exchange have lowered their forecasts by nearly 6% from the previous season, with the Rosario Stock Exchange suggesting that this could be the smallest wheat harvest since 2015. The country, a major wheat exporter, is dealing with potential domestic shortages as it also serves as the main source of government revenue through grain shipments, amidst struggles with inflation.

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Original content

By Maximilian Heath BUENOS AIRES (Reuters) - Argentina's 2022/23 wheat crop is expected to reach 16 million tonnes, a senior analyst at the Rosario Stock Exchange told Reuters on Thursday, with a cut of 500,000 tonnes from the forecast. previous year, due to drought and frosts that hit the crops. Argentina is a major wheat exporter and its role in global markets has gained greater prominence amid a global supply crisis linked to Russia's invasion of Ukraine. The two Eastern European countries are also major wheat producers. Along the same lines, the Buenos Aires Grain Exchange released a separate estimate that the country's 2022/23 wheat crop could reach 16.5 million tonnes, down nearly 6% from the exchange's previous forecast. of 17.5 million tons. + Lula or Bolsonaro? Economist shows how to analyze the economic scenario to invest well in the next 4 years If confirmed, the projection of the Rosario stock exchange would mark the smallest wheat harvest in Argentina in seven years. ...

Source: Istoedinheiro