Recent rains in Argentina have hit the agricultural heartland of the south and rural areas of the west, significantly improving humidity conditions after heavy rainfall last week, which was concentrated mainly in the north of the country, the Rosario Stock Exchange (BCR) reported on Monday.
Argentina, one of the world's largest food exporters, has faced a predominantly dry winter. However, the last two months have been marked by almost weekly rain fronts, bringing relief to agricultural areas.
Soybean 2024/25 starts in favorable conditions
Last week, the Buenos Aires Grain Exchange highlighted that the harvest of soy 2024/25 started the campaign in a promising production scenario.
“Last weekend brought another significant rainfall event to the central region. “This time, the southern region recorded the highest volumes, where until a few days ago the soils were facing severe deficits in their water reserves,” BCR said in a report.
Planting progress and estimates
Soybean and corn crops are currently in the early planting phase, with less than 50% of the planned area completed. BCR estimates soybean production will reach between 53 and 53.5 million tons, while it projects the corn crop between 50 and 51 million tons.
Wheat harvest 2024/25
Meanwhile, the wheat 2024/25 is already in the harvest phase in Argentina. BCR expects to complete the harvest in January 2024 and estimates production at 18.8 million tons.
Market outlook
With improved weather conditions and a promising start to major crops, Argentina maintains its position as a relevant player in the global agricultural commodities market. The performance of the harvests in the coming months will be crucial to consolidate export and domestic supply projections.
Source: Maximilian Heath | Notícias Agrícolas
