Mumbai, 01 Apr (Commoditiescontrol): Argentine producers are bracing for a dismal soybean harvest this year, with a new survey by the CREA Movement predicting a yield significantly below the initial forecast.
The survey suggests soybean production will be around 46 million tons, a stark decrease from the earlier estimate of 52.5 million tons.
Similarly, corn production is expected to barely exceed 51 million tons, down from the Rosario stock exchange's prior forecast of 55 million tons by the Grains stock exchange of Buenos Aires.
The devastating crop losses are attributed to a harsh combination of drought, record-breaking heatwaves, intense winds, and widespread hail damage.
Additionally, corn crops struggle with an insect-borne disease known as Spiroplasma, further exacerbating the losses.
(By Commoditiescontrol Bureau; +91-9820130172)
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