Argentina’s corn harvest is expected to be quite strong
Data from the Buenos Aires Grain Exchange indicate that corn in Argentina was threshed on 794.8 thousand hectares by April 5, which is 11.1% of the planned area (+5.4% for the week). As of this date, 7.36 thousand tons of grain had been threshed at an average yield of 9.26 t/ha – a fairly high figure for the early stage of the campaign.
However, crop condition deteriorated slightly, with the percentage of plants in good to excellent condition dropping to 17% compared to 22% a week earlier. At the same time, plants in normal condition are at 51 (vs. 53) % and in poor and very poor condition at 32 (25) %. In addition, an increase in the leaf beetle pest on crops is reported, and in some regions the lack of regular rainfall has had a negative impact on plant condition.
Exchange experts reduced the forecast for corn harvest in Argentina by 4.5 million tons, down to 52 thousand tons, and do not exclude possible further adjustments to this estimate.
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