News

The Rosario Stock Exchange reduced the estimate of the corn and soybean harvest

Maize (Corn)
Argentina
Sustainability & Environmental Impact
Market & Price Trends
Published Feb 23, 2024

Tridge summary

The Rosario Stock Exchange (BCR) has downgraded its forecast for Argentina's 2023/24 corn and soybean harvests due to a severe heat wave. Corn production is now predicted to be 57 million tons, a decrease of two million from January's estimate, and soybean production is expected to be 49.5 million tons. The heat wave has caused substantial damage to crops, especially second-grade soybeans, with yield losses of 40% to 60% in some regions. The heat wave also resulted in a reduction of the national planting area by 100,000 hectares.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Rosario Stock Exchange (BCR) estimated a production of 57 million tons of corn for the 2023/24 harvest, two million less than in January, and 49.5 million tons of soybeans. As detailed by the entity, it is because "the heat wave has had its impact on the yield potential of the coarse." The Rosario stock market explained that the heat wave excluded the possibility of a super soybean campaign, in addition to forcing a negative adjustment in corn. "Between 2010 and 2020, Argentina would have surpassed the threshold of 50 Mt of soybean production on 7 occasions. From 2020 onwards, this 2023/24 cycle presented itself with the opportunity to exceed that level. Unfortunately, by virtue of the condition of the crop, the first estimate made points to an amount below what was expected in the first projections, now calculating the possibility of obtaining 49.5 Mt.", indicated the entity. In this sense, he pointed out that between December and January 17, a notable water improvement was ...
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