While wheat crops are receiving better-than-expected rain in Argentina, dryness is threatening vulnerable corn crops reaching critical development stages, reports ProAgro Group, citing World-Grain.
Currently, the corn harvest forecast is for a record 57 million tons in 2021-22 MY, but analysts said they may need to pare back that number should this dry weather pattern hold in the coming weeks.
Esteban Copati, head analyst at Buenos Aires Grains Exchange said that late-planted corn could make up potential yield losses for early-planted corn under stress.
The country is the world’s second-biggest corn exporter and top supplier of soymeal for livestock feed. Argentine farmers have planted more than 81% of the expected 2021-22 soy area and 70% of corn, according to a recent exchange report.
