Expectations of a record corn crop in Argentina may be offset by lower world prices
It is predicted that expectations of a record corn harvest in Argentina may not be met due to the fall in global prices for grain products. Analysts at the Rosario Grain Exchange report that the effect of the anticipated record harvest may be lower than expected, raising doubts in the Argentine government.
Corn exports from the country are expected to increase by 53% compared to last season thanks to a record crop estimated at 57 million tons. Nevertheless, the value of exports is expected to increase by only 20%, reaching approximately 7.66 billion dollars.
It should be noted that the increase in Argentina’s corn crop is due to rainfall caused by the El Niño phenomenon. This favors the development of corn and soybean crops at key stages. Corn harvesting in Argentina is scheduled to start next month.
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