BUENOS AIRES, ARGENTINA — Argentina’s grains exchange has cut its estimate for the nation’s 2020-21 wheat crop to 17 million tonnes, down from 18 million tonnes, due to dryness and frost, Reuters reported.
Portions of the Pampas grain belt have been unusually dry over the last eight months. The exchange said there is a need for significant rains to stop yields from dropping lower.
An estimated 608,000 hectares of planted area is at risk of not being harvested, Reuters reported. A total of 6.5 million hectares of farmland was planted with wheat this season.
The corn crop was unchanged at 48 million tonnes as was the soy estimate at 50 million tonnes. The exchange did say more moisture is needed to ensure proper development of both.