The Buenos Aires Grain Exchange projects Argentina’s wheat crop will fall to 20.5 MMT in 2022-23, down from 22.4 MMT this year. The exchange expects the area sown with wheat will decline by 1.5% to 6.6 million hectares, due to a growth in seedings of other crops with higher profit margins, such as soybeans and sunflowers. It also expects wheat yields to fall due to the use of less inputs amid high prices.
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USDA’s initial 2022-23 Argentine wheat crop projection is 20 MMT. The Rosario Grain Exchange projects Argentina’s wheat crop will fall to 19 MMT next year.
