Posted on November, 17, 2023 at 07:03 am
Argentina's Buenos Aires grains exchange on Thursday cut forecasts across its 2023/24 wheat and corn crops but increased its projection for the land it will sow with soybeans, as late rainfall hit farmers across the country's agricultural core.
The exchange now expects 17.3 million hectares will be sowed with soybeans, compared to a previous 17.1 million hectares forecast.
However, it cut its corn planting estimate to 7.1 million hectares from 7.3 million.
It also trimmed its wheat harvest estimate to 14.7 million metric tons from 15.4 million tons previously forecast.
Source: Nasdaq