Argentina is now expected to produce 15 MMT of wheat this year, according to the latest forecast from the Rosario Grain Exchange, down 1 MMT from its prior outlook, as late frost hit a crop already hurt by drought. This year’s production would be the lowest in seven years and the crop is “very critical and could still get worse,” the exchange said. USDA earlier this month forecast the 2022-23 Argentine wheat crop at 17.5 MMT.
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