Wheat advances in Argentina and exceeds expectations

The wheat harvest in Argentina is advancing and has already covered 33.9 percent of the suitable area, according to an update from the Buenos Aires Grain Exchange. The entity highlights that yields are above expectations and that the damage caused by the October frosts was less than estimated, thanks to the good soil moisture. With this, the production forecast rises to 25.5 million tons, surpassing by 13.8 percent the previous record of the 2021/22 crop. Soybeans continue at a slow pace. Planting reaches 36 percent of the 17.6 million hectares projected, nine percentage points behind last year. Excess moisture in the center of Buenos Aires prevents the advancement of first soybeans, although more than 70 percent of the initial intention has already been planted in the main regions. In southern Santa Fe, the first batches of second soybeans begin, which account for 2.3 percent of the estimated area. Corn gains momentum with the opening of the late sowing window in the center and ...