Argentina Soy Forecast Slashed 24% to 37m Tons, Rosario Says
2023-01-12 12:57:39.619 GMT
By Jonathan Gilbert
(Bloomberg) — A severe drought means the Rosario Board of Trade is estimating the soy crop at 37m metric tons, compared with an early-season forecast of 49m, it says in a monthly report.
* That would be the smallest harvest since 2018
* Soy and corn are growing in the driest conditions in more than 60 years
* 1.1m hectares (2.7m acres) of planned soy planting didn’t happen because fields were too dry
* On farms where seeds did go in the ground, without widespread, abundant rainfall there could be huge losses
* Rosario also set a corn estimate of ~45m tons vs. its early- season forecast of 50m
* NOTE: Drought Threatens Argentina Soy Crop as Nation Turns to Brazil
* NOTE: Satellites Suggest Argentine Soy Crop Will Be Lowest Since 2018
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Jonathan Gilbert in Buenos Aires at jgilbert63@bloomberg.net
To contact the editors responsible for this story:
David Marino at dmarino4@bloomberg.net
Danielle Chaves
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