April 4, 2022
Buenos Aires grains exchange warns of early frosts affecting soy and corn crops
The Buenos Aires grains exchange said early frosts in Argentina's farming belt could result in soybeans and corn losses for the 2021/22 season, another possible blow to output already affected by drought earlier this year, Reuters reported.
The exchange slashed its soybean harvest projections by 2 million tonnes and by 7 million tonnes for corn. Argentina is the biggest exporter of soy oil and soymeal in the world, and second biggest corn exporter.
The Buenos Aires grains exchange current forecast for soybean production is at 42 million tonnes and corn output at 49 million tonnes.
The exchange's weekly weather report said the frost may incur additional losses to the harvest, with the southeast of Buenos Aires province the most affected.
Soy harvest is 19% complete, according to the exchange. As for corn, the exchange said the frosts are only affecting yields of late-planted corn still in development. Corn harvest is currently at 14.4% complete.
Last week, the Buenos Aires grains exchange slashed its corn projections by 2 million tonnes because of the drought, following a bigger cut earlier this year.