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Rains that have pelted Argentina's farm belt since mid-March halted the deterioration of corn and soy yields, and a coming dry spell will help kick off harvesting of the country's two main cash crops, climatologists said on Wednesday.
Argentine wheat planting facing pressure from rival barley, politics
Argentine wheat sowing is likely fall this year as farmers calculate the risk of state intervention in the market while new Chinese demand for South American feed barley is expected to induce some growers to switch crops.
China’s usual barley supplier Australia has been sidelined due to a bilateral trade dispute. This leaves Argentina as a key supplier, along with France and Canada, to the world’s top commodities importer.
Wheat and barley compete for sowing area on Argentina’s Pampas grains belt. Both are planted around midyear.
“Barley will be an alternative for those who want to reduce regulatory risks for the season that is starting, although this option is only available for some farm areas,” said Ezequiel De Freijo, head economist at the Argentine Rural society, which represents some of the country’s biggest farmers.
Uncertain rain chances in Argentina and prospects for rainfall in the Midwest during the 10-day period are the primary weather features for the commodity market s attention Friday.
February and March are perhaps the two most important months for Argentina’s corn and soybeans to receive ample rainfall, though last month was unusually dry and this month could follow suit, according to the latest weather forecasts.