Argentina: They again cut the estimate for soybeans and corn

Published Mar 16, 2023

Tridge summary

The Buenos Aires Grain Exchange has lowered its production estimates for soybeans and corn due to a historic drought, predicting only 25 million tons of soybeans and 36 million tons of corn for the current campaign. This would mark a 44.4% drop from the average production of the last five campaigns and a lower average yield than the 2008/09 campaign. The new production projection for the 2022/23 campaign stands at 36 million tons, which is 16 million tons less than the previous campaign, while occasional rains are helping to maintain the condition of the crop in the northern and southern parts of the agricultural area.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The numbers of the current agricultural campaign continue to be alarming in the midst of a historic drought. This afternoon, the Buenos Aires Grain Exchange once again cut the estimate for soybean and corn production. Regarding the oilseed, it cut another 4 million tons with which it predicts that production would barely reach 25 million tons. Meanwhile, in reference to cereal, the entity cut 1.5 million tons of corn, with which it estimates its production in the current campaign at 36 million tons. The estimate of soybean production represents, according to the Stock Market, a fall of 44.4% with respect to the average production of the last five campaigns (U5C Production: 45 MTn). Under this productive scenario, the average national yield would be below that of the 2008/09 campaign (Average yield 2008/09: 19.2 qq/Ha). The harvest of early plantings registers average yields below the historical series of the last 21 years, indicates the entity. Against this background, the new ...

Source: Laradio1029