Argentina: sowing intentions for the new cycle continue to fall

Published Sep 13, 2024

Tridge summary

The article highlights the ongoing corn harvest for the 2023/24 season with particular focus on the early sowing for the next cycle, which has already commenced despite ongoing disease issues and weather uncertainties reducing the planned sowing area by 21% compared to the previous year. This situation has led to hesitation among farmers and noticeably impacted corn purchases by industry and exports, reaching only 19% of the five-year average by late August. The article anticipates a shift in the volume of corn harvested throughout the year, likely to favor grain harvest around March, and points out the resulting variation in local forward market prices for the upcoming season.

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

Original content

With the 2023/24 corn harvest almost complete, data from the weekly report of the Ministry of Agriculture, Livestock and Fisheries (SAGyP) indicate that the implementation of the first batches of early corn corresponding to the 2024/25 cycle has already begun. Even without official data from the government agency, the first sowing projections made by GEA-BCR in its latest national monthly estimate report indicate that the area to be sown would be 7.7 million hectares, which represents a reduction of 21% compared to the previous campaign. The lower intention to sow is mainly due to the losses caused by the stunting of corn in the current campaign, due to the disease transmitted by the cicada, and to the fear that the situation will be repeated in the new campaign. In addition to this, there is uncertainty regarding weather conditions. The uncertainty surrounding the production of the new campaign is reflected in the anticipation of the marketing of corn in the national market. As ...

Source: 3tres3