The Buenos Aires Grain Exchange cut its soybean production estimate by 3 million tons, from 41 million to 38 million tons, due to a decrease in expected yields as a result of the drought.
If this projection comes true, the 2022/23 campaign would be the lowest in the last five cycles and it would be 10 million tons below the first estimate made by the Buenos Aires stock exchange entity before sowing began, according to a cable published by Agencia Telam.
Moreover, this figure is 5.3 million tons below the 43.3 million tons registered during the 2021/22 harvest.
Yesterday, the Rosario Stock Exchange (BCR) also made an adjustment to its soybean production forecast, with a decrease of 2.5 million tons from 34.5 million tons.
On the other hand, the United States Department of Agriculture (USDA) estimated a crop of 41 million tons, cutting 4.5 million tons with respect to the previous production report.
The new adjustment made by the BCBC was based on a projected decrease of between 30% and 40% in expected yields in the northern and southern core region.
To date, 31.4% of the area in question is still defining yields (R3-R6), in a context in which the fields in the center-north region of Santa Fe are considered the most advanced.
The report of the stock exchange entity pointed out that, currently, 5 out of 10 hectares are still in a stage of leaf differentiation and full flowering, so that the agro-climatic conditions of the coming weeks will be decisive to avoid further losses.
With respect to corn, 99.1% of the 7.1 million hectares projected for the current season have already been planted, with work concentrated in the north of the country.
The rains recorded during the last weeks “improved the state of the late and second occupation of the cereal at the same time in which most of the lots began to go through the period of yield definition in the west and south of the national agricultural area,” the report said.
In addition, the first harvests of early plantations began to be reported in the center of the agricultural area with “yields below initial expectations as a result of the thermo*hydric stress suffered by most of the fields”.
Finally, the sunflower harvest has already reached 21.8% of the total area of 2 million hectares foreseen for the current season, with a projected average yield of 15.2 quintals per hectare (qq/ha) and a production forecast of 3.9 million tons.
SOURCE: puntobiz.com.ar