Argentine Wheat Crop Struggling
This season's Argentine wheat crop is struggling with cold and dry weather hurting yields, analysts say.
Widespread frost in the Pampas this week has caused significant damage according to the Buenos Aires Cereals Exchange.
The exchange cut it's production estimate Friday to 10mmt, down 500,000mt on last week's estimate and 1mmt down in a fortnight.
On Thursday, the Agriculture Secretariat forecast this season's wheat output at 10.1mmt, down sharply from the 16.3mmt produced last season.
Plantings were lower for the 2008/09 crop due to dryness, and the crop has struggled with dry conditions all season.
With 12.4% of the crop harvested so far, yields are averaging 19.1% below last season according to the Buenos Aires Cereals Exchange.
Widespread frost in the Pampas this week has caused significant damage according to the Buenos Aires Cereals Exchange.
The exchange cut it's production estimate Friday to 10mmt, down 500,000mt on last week's estimate and 1mmt down in a fortnight.
On Thursday, the Agriculture Secretariat forecast this season's wheat output at 10.1mmt, down sharply from the 16.3mmt produced last season.
Plantings were lower for the 2008/09 crop due to dryness, and the crop has struggled with dry conditions all season.
With 12.4% of the crop harvested so far, yields are averaging 19.1% below last season according to the Buenos Aires Cereals Exchange.
