Dryness wallops Argentina’s soy crop forecast, more cuts expected
Soy crops in key parts of Argentina’s farm belt have been hit by a yield-shriveling drought, spurring the Rosario grains exchange to slash its 2020/21 harvest estimate by 4 million tonnes to 45 million.
Analysts warned of more harvest forecast reductions ahead.
“February and the first 10 days of March did not provide significant rains to a large part of the central farm area. There are serious losses to yields and planted area. It is not yet possible to estimate the floor in terms of production,” the exchange said in its monthly crop report.