Due to dryness in Argentina, the Buenos Aires Grain Exchange says it might start marking down their record high 2021-22 corn harvest estimates if it gets too dry next month. “There is a risk of having to lower our corn production projection,” Esteban Copati, head analyst at the exchange, said. The current forecast is for a record 57 MMT corn crop.
Concerns about Argentina’s corn crop are also echoed by the Rosario exchange, which estimates the crop between 55 MMT and 56 MMT. “Early corn planted in the provinces of Santa Fe, Cordoba, Entre Rios and Buenos Aires is in a particularly delicate situation, and in the eastern part of the country, yield losses ranging from 20% to 40% are confirmed,” the Rosario report said. “We may be facing a serious problem if the forecast of scant rains during the first half of January is confirmed,” it added. “But we can’t confirm anything yet because late-planted corn could compensate for these potential yield losses in early-planted corn, as has happened in other seasons.”
