BUENOS AIRES (Reuters) – Argentina’s 2021/22 wheat crop is expected to total 19.8 million tonnes, the Buenos Aires Grain Exchange said in a report on Thursday, citing recent rains as a reason to raise its estimate previous 19.2 million tons.
A possible drought in the Pampas grain belt in the coming weeks remains a concern, the exchange said.
“Although this wheat crop was marked by a situation of restricted soil moisture, it rained at important moments for the crop to maintain adequate conditions,” the exchange said.
“The extension and adequate distribution of rainfall allowed the crops to remain in favorable conditions in the regions that make up a large part of the planted area. In this scenario, the projection for the 2021/22 crop is 19.8 million tons, an increase of 600 million tonnes compared to our previous projection,” the exchange said in the report.
Argentina is a major wheat exporter, mainly to neighboring Brazil. The Argentine harvest is scheduled to end in January.
(Reporting by Maximilian Heath and Hugh Bronstein)
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