Argentine wheat harvest predictions up despite ongoing drought

Argentina’s wheat harvest is expected to be up this year despite the ongoing drought.

The Buenos Aires Grains Exchange predicts the 2023-2024 crop will come in at 18 million metric tons, up 45 percent from last year.

This past season, wheat was severely damaged by lack of rainfall and farmers were only able to harvest 12 million metric tons, which represented a 10 million metric ton decline from the 2021-2022 crop.

This new estimate increase is below the USDA‘s estimate of 19.5 million tons.

Tags: drought, crop, Argentina, Buenos Aires Grains Exchange, harvest, USDA, estimate, wheat