July 8, 2020 / 7:20 PM / a month ago

Argentina grains exchange says may further cut wheat planting forecast on dry weather

BUENOS AIRES, July 8 (Reuters) - The Buenos Aires grains exchange said on Wednesday it could further cut its forecast for Argentina’s 2020/21 wheat planting area, currently at 6.5 million hectares, due the dry weather that has affected producing regions in recent weeks.

Any further cut would be the third made by the key grains exchange, which at the beginning of the campaign had forecast a record wheat planting area of 6.8 million hectares.

In its weekly crop report, the exchange said dry conditions were affecting western parts of the central agricultural region, areas of Cordoba province and Argentina’s north.

“Given the lack of rains and forecasts for them in the short term, areas lacking water could continue to cut back on planting plans due to the impossibility of sowing what’s left,” the entity said in the report.

As of Tuesday, farmers had planted 86.8% of the planned area for wheat, the exchange added

Regarding 2019/20 corn, the Buenos Aires exchange said that dry conditions have favored the harvesting of the cereal, whose threshing is 86.4% complete and its production is estimated at 50 million tons. (Reporting by Maximilian Heath; Writing by Adam Jourdan Editing by Alistair Bell)

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