USDA slashes Argentina crop production

Published 2023년 3월 13일

Tridge summary

The USDA has lowered its estimates for the 2022/23 soybean and corn production in Argentina due to hot and dry conditions, with soybean production estimated at 33.0 million tons, down from 41.0 million, and corn production at 40.0 million tons, down from 47.0 million. The early harvest yields are below expectations and private market analysts expect further reductions. Argentine farmers are expected to withhold sales in hopes of higher prices. Meanwhile, soybean crushers are struggling to source enough soybeans and have imported Brazilian soybeans, with more imports expected.

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

Original content

Hot and dry conditions during February and early March continued to take a toll on soybean and corn production in Argentina. In their March World Agricultural Supply and Demand Estimate (WASDE), the USDA significantly reduced their estimates for the 2022/23 soybean and corn production in Argentina. The 2022/23 soybean production in Argentina is now estimated at 33.0 million tons which is down 8 million tons from the 41.0 million estimated in February. The 2021/22 soybean production in Argentina was 43.9 million tons. The 2022/23 corn production in Argentina is now estimated at 40.0 million tons, which is down 7 million tons from the 47.0 million estimated in February. The 2021/22 corn production in Argentina was 49.5 million tons. Everything that could go wrong has gone wrong this growing season in Argentina. Argentine crops in 2022/23 have endured the worst drought in over 60 years, record high temperatures, record low temperatures and even localized frost in the middle of ...

Source: UkrAgroConsult