BUENOS AIRES, ARGENTINA — The Buenos Aires grains exchange has increased its forecast for corn plantings for 2021-22 to 7.3 million hectares from 7.1 million hectares, Reuters reported.
It maintained the record harvest figure at 55 million tonnes. Crops, including corn and soybeans, are in good condition, helped by recent rainfall.
Farmers have planted 31.1% of the expected corn area and 46.3% of the estimated soybean area. The soybean harvest is estimated at 44 million tonnes.
Wheat harvest is nearly half complete, with production estimated at a record 20.3 million tonnes.
In a separate report, the exchange said rains of varying intensity would hit dry agricultural areas in the west and north. There is also a chance of late frosts in regions in the south, Reuters said.
The La Niña climate phenomenon is also active, which for Argentina can mean decreased rainfall in key agricultural areas.