Source: REUTERS
BUENOS AIRES, Dec 5 (Reuters) – Argentina’s wheat crop could come in higher than previously expected, the Buenos Aires Grain Exchange said on Thursday, with farmers reporting better yields as the harvest is underway.
Argentina is one of the world’s largest exporters of wheat and corn. The exchange has pegged the wheat harvest at around 18.6 million metric tons.
Harvesting of the grain is nearly halfway through, the exchange said in its weekly crop report, adding that this week’s yields came in above expectations.
If the crop is indeed more fruitful than previously thought, “we could be facing a positive adjustment of the production projection,” the exchange said.
Meanwhile, planting of the soy and corn crops is about halfway through as farmers take advantage of the moist soil from recent rains.
The exchange estimates the soy planting area at 18.6 million hectares and the corn planting area at 6.3 million hectares.
(Reporting by Maximilian Heath; editing by Jonathan Oatis)
