Argentina’s Rosario grains exchange has lowered its 2024/25 corn forecast to 48 million metric tons due to drought effects. The soybean production expectation has also dropped, although a specific figure was not provided. Weather conditions, including high temperatures and limited rainfall, have contributed to these adjusted forecasts, impacting Argentina’s agricultural output significantly.
The Rosario grains exchange in Argentina has revised its forecast for the 2024/25 corn harvest down to 48 million metric tons, a reduction from a previous estimate of 50 to 51 million tons. This adjustment is attributed to a prevailing drought affecting the country, characterized by extreme temperatures, low humidity, and elevated solar radiation, which have negatively impacted early corn growth at a critical phase.
Additionally, the exchange indicated that soybean production for the same period is expected to fall below earlier predictions of between 53 million and 53.5 million tons. However, a specific estimate has not been provided. The prolonged absence of rainfall, which has affected Argentina’s agricultural heartland for the past month, is anticipated to diminish soybean yields and has led to a reassessment of previously high productivity expectations.
Despite expectations of some precipitation in the coming days, the exchange foresees the rainfall amount to be relatively low, further complicating the agricultural outlook. Argentina is a significant player in global agriculture, ranking as the third-largest corn supplier and the top exporter of soybean meal and oil.
In conclusion, the Rosario grains exchange has notably reduced its corn and soybean forecasts for the 2024/25 harvest due to adverse weather conditions, particularly drought. The anticipated lower yields for both crops may impact Argentina’s position in the global market, highlighting the pressing challenges posed by extreme climatic conditions on agricultural production.
Original Source: www.agriculture.com
