The Rosario Stock Exchange reduced its wheat output estimate for 2022/23 in Argentina to 11.5 million tonnes.
The new figure represents a reduction of 300 thousand tonnes from the November forecast of 11.8 million tonnes.
If confirmed, production will be 50% lower than in 2021/22, which reached 23 million tonnes.
According to the exchange, the estimate has been reduced due to yield drops in Córdoba, Buenos Aires, and Santa Fe.
Much of this drop, however, was offset by higher productivity in Entre Ríos.
“If it weren’t for Entre Ríos, national production would be around 11 million tonnes,” the exchange said.
The national average yield estimate is 2,300 kilograms per hectare, the lowest level since 2010.
Source: Money Times
