Argentina: Grain and Feed Update

Argentine wheat production for marketing year (MY) 2023/2024 is estimated at 15.4 million tons, 400,000 tons higher than USDA official as yields were higher in the final phase than earlier expected. Corn production for MY 2023/2024 is projected at 57 million tons, 2 million tons higher than USDA official mainly on a larger planted area. Crop conditions to date are very good with beneficial weather forecast in the months to come. Sorghum production for MY 2023/2024 remains the same as USDA, but exports are forecast at 900,000 tons, 400,000 tons lower than USDA official. The final volume will depend significantly on demand from China. Rice production in MY 2023/2024 is projected at 1.1 million tons rough base, significantly lower than USDA official due to smaller harvested area and lower yields. The El Niño weather pattern has so far produced the loss of 5,000 hectares of rice in Corrientes and yields are expected to be lower than USDA official.