The Buenos Aires Grain Exchange kept its Argentine soybean and corn crop estimates at 25 MMT and 36 MMT, respectively, noting recent rains stabilized crops for now. But production potential remains severely reduced by prolonged drought.
The exchange rated the Argentine soybean crop 2% good/excellent (unchanged from the previous week), 25% fair (up two points) and 73% poor/very poor (down two points). It rated the country’s corn crop 6% good/excellent (down one point), 36% fair (up three points) and 58% poor/very poor (down two points).
