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.
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