Argentina's corn, soybean production output lowered: BAGE
Corn and soybean production estimates in Argentina have been lowered as a result of harsh dry and hot conditions in the country, the Buenos Aires Grains Exchange (BAGE) said in its weekly report, released Thursday.
The data covered the week ending February 22.
Corn
Corn harvest for commercial grain is advancing in the center of the national agricultural area and yields surveyed so far are below initial expectations.
Thus, BAGE's new corn output is lowered to 41 million mt for 2022/23 from the previous estimate of 44.5 million mt on low yields generated.
If realized, it would result in a year-on-year production decline of 21%.
Areas rated rated in good-to-excellent condition for corn declined by 2 points to 9%, while moisture is rated as favorable in 40% of the area, a 5 points decrease on the week.
Soybean
Soybean production was also lowered to 33.5 million mt, down 4.5 million mt from the previous estimate, following early frosts on the western edge of the agricultural area, lack of rain, and the heat registered during the beginning of February.
The severity of the damage caused by the high temperatures remains to be assessed during the coming weeks and Bage cautions that depending on the impact, the current production estimate figure could undergo a new update.
Soybean crop areas rated in good-to-excellent condition declined by 6 points to 3% of the total crop.
The water conditions also worsened as areas considered dry are now at 71%, a 4 percentage points increase on the week, while areas considered in optimum and adequate condition are now at 29%, down by the same amount.
Sunflower
The sunflower harvest has reached 24.5% of the 2 million ha projected area, a 1 percentage point weekly increase.
The national average yield is 15.3 qq/ha and the projected production is maintained at 3.9 million mt.
Sunflower crops rated in good-to-excellent conditions moved up 3 percentage points to 19% of the total, with dry conditions moving down 1 point to 15% of the total crop.