Early frosts in the coming days could hurt Argentina’s already beleaguered soy and corn crops in southern areas of the country’s main farming region, the Buenos Aires Grain Exchange said Thursday in a report. The exchange says crops are set to endure “cold and dry polar winds that will cause a remarkable drop in temperature, with unseasonably low temperatures, and with the risk of localized frost.”
The exchange rated the Argentine soybean crop 9% good/excellent (down four percentage points from the previous week), 35% fair (down four points) and 56% poor/very poor (up eight points). It rated the country’s corn crop 11% good/excellent (down nine points), 44% fair (down two points) and 45% poor/very poor (up 11 points).
The exchange left its crop estimates at 38 MMT for soybeans and 44.5 MMT for corn but warned it likely will need to further reduce those forecasts, especially for soybeans.
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