Because of forecasted dry weather the Rosario Grains Exchange anticipates a lesser wheat crop in Argentina for the 2022/23 season. The Excha
Because of forecasted dry weather the Rosario Grains Exchange anticipates a lesser wheat crop in Argentina for the 2022/23 season. The Exchange projects Argentine wheat production to decline to 19 million tons, down from a record the 22.1 million tons in 2021-22, as a La Niña weather pattern is expected to reduce rainfall in the coming months.
Argentina is among the world’s top wheat exporters and is estimated to have exported a record 14.5 million tons in 2021-22, which would rank her seventh globally, according to the Foreign Agricultural Service of the US Department of Agriculture.
The global wheat supply is declining due to the war between Russia and Ukraine, which account for nearly one-third of global wheat exports, as well as lower output anticipated, also because of adverse climate conditions in United States and India.
The USDA estimates that global wheat ending stocks will fall to 278 million tons in 2021-22, the lowest level since 2016-17.
continue reading
