BUENOS AIRES, ARGENTINA — Dry and hot weather in key agricultural areas of Argentina in recent weeks have led to a lower 2021-22 crop forecast for corn and soybeans on Wednesday, Reuters reported, citing the Rosario grains exchange.
Argentine farmers are expected to harvest 48 million tonnes of corn in the 2021-22 season, down from a previous forecast of 56 million tonnes. The forecast for soy also was reduced to 40 million tonnes from 45 million tonnes.
Argentina is the world’s second-largest corn exporter and the main global supplier of soybean oil and flour.
In its monthly report, the grains exchange described nearly a month without any significant precipitation and corn that has suffered two heat waves within a week of each other, offering little time for respite from the high temperatures.
The extreme weather has put corn planted early, which is in key stages of development in a precarious position, while the current corn season will depend on the success of late corn, which is entering stages of development at the end of the austral summer, the report noted.
The grains exchange also described a gloomy outlook for soybeans, which could register a drop in the planned area of implantation.
Drought has slowed growth, causing flower abortion, leaf burning and seedling death in the most affected areas. It also pointed out that of the 16.2 million hectares it foresees for soybeans, 300,000 hectares could remain unsown due to the weather.