Argentina Faces Soybean and Corn Harvest Delays Due to Adverse Weather

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Impact of Weather on Soybean Yield

The Buenos Aires Grain Exchange (BAGE) has issued a warning about the adverse effects of warm and dry weather on soybean yields in Argentina. As a result, the production forecast for the 2023/24 fiscal year may need to be revised downward from the current estimate of 51 million tonnes.

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In northeast Argentina, the soybean harvest is experiencing delays due to weather conditions, leading to lower-than-expected yields. As of May 8, soybean threshing had been completed on only 47.8% of the area, a significant 13% decrease compared to the five-year average.

Challenges in Corn Harvest

Similarly, the corn harvest is facing challenges, with only 23.4% of the crop harvested by May 8. Heavy rains in April left the grain with high moisture levels, further delaying harvesting activities.

Last week, BAGE experts revised down the forecast for the 2023/24 maize crop by 3 million tonnes to 46.5 million tonnes due to crop damage caused by leafhoppers and adverse weather conditions.

Forecasts and Predictions

While the forecast from the Grain Exchange in Rosario is slightly more optimistic, the delay in harvesting across major agricultural regions has led to a reduction in the estimated corn production for 2023/24. However, the soybean harvest forecast remains unchanged at 50 million tons.

Experts anticipate that the cessation of rains in the coming days will enable harvesting to resume in the first half of May. Additionally, the arrival of cold fronts with frosts is expected to help reduce the population of leafhoppers, mitigating further damage to corn crops.

Importance of Argentina in Global Grain Markets

Argentina and Brazil play pivotal roles as the main exporters of soybean oil and meal globally. Moreover, Argentina ranks as the third-largest exporter of corn worldwide, trailing behind the United States and Brazil. The challenges faced in Argentina’s grain production could have implications for global grain markets and prices.

Adverse weather conditions in Argentina have led to delays in the soybean and corn harvests, posing challenges for crop yields and production forecasts. Factors such as weather patterns and pest infestations will continue to influence harvest outcomes and market prices in the coming weeks. Stay updated on weather forecasts and agricultural reports for insights into potential market fluctuations.