Record wheat harvest and low prices: the challenge facing agriculture

The 2025/26 wheat campaign would mark a historic milestone in production terms for Argentina, though without an equivalent impact on foreign exchange earnings. According to the latest official estimates, national production would be around 27 million tons, the highest volume since systematic records began. According to the latest forecast from the Secretariat of Agriculture, Livestock and Fisheries (SAGyP), with 76% of the area already harvested by mid-December 2025, production would be at 26.8 million tons, setting a new historical record for the cereal. The productive leap is mainly explained by a sharp increase in yields, which would grow by nearly 40% year-on-year, rising from about 30 to almost 40 quintals per hectare. The planted area, meanwhile, would show only a marginal increase of 4%, reaching 6.8 million hectares, a level similar to previous campaigns. Compared to the previous high of 2021/22, production would be about 20% higher, explained almost exclusively by ...