Argentine bourse cuts wheat crop estimate, soybeans unchanged

The Rosario Grain Exchange on Wednesday cut its 2024/25 wheat crop estimate by almost 5%, citing a lack of rain in key agricultural areas.

“Despite recent storms, heavy rains are not expected and the crop is in a critical period of growth, losing yield potential,” the exchange said in a report.

Wheat production is now estimated at 19.5 million tons, down from the previous estimate of 20.5 million tons.

The exchange maintained its estimates for the corn crop at 51-52 million tons and the soybean crop at 52-53 million tons.

Tags: Argentina, crop forecast, soybean, wheat