A USDA representative raised the crop forecast for Argentina

The representative of the USDA in Argentina believes that thanks to favorable weather and an increase in the area of sowing, the corn harvest in Argentina in FY 2023/24 will reach 57 million tons, which is 2 million tons higher than the official forecast of the USDA.

The forecast for the wheat harvest in 2023/24 was also raised by 0.4 to 15.4 million tons, as the yield at the final stage of harvesting exceeded expectations.

According to the BAGE Grain Exchange of Buenos Aires, 98.4% of the planned area is sown with corn, but a heat wave and a lack of rainfall in the north of the country are delaying planting. Temperatures of 30-35 ^o C, which have lasted for two weeks, reduced soil moisture reserves, as a result of which the number of corn crops in good or excellent condition decreased by 15.4%, which is still higher than last year's 16%.

The number of soybeans in good or excellent condition due to the heat also decreased by 12% to 36%. At the same time, 14% of crops have already entered the critical period - the pouring stage, so they will need good rainfall in the near future.

According to forecasts, light rains will fall in the country at the end of the week, which will lower the temperature to 25-30 ^o C. However, their amount will not be enough to improve the condition of the crops.