The grain exchange in Rosario, Argentina, issued an optimistic forecast on the production of the South American country’s soybean and maize crop during the 2023/2024 season.
The grain exchange forecast soybean harvests of about 48 million metric tons for the 2023/2024 season, up from 20 million tons last season, which was hit by severe droughts that reduced its productivity.
In the same vein, Argentina’s corn crop estimated that the 2023/2024 season could reach 56 million tonnes, up from the expected 34 million tonnes for the 2022/2024 season, as the country is the third global maize exporter.
The country, which is one of the world’s leading producers of agricultural grains, faced unfavourable weather conditions in the 2022/2023 season, affecting the country’s agricultural production, especially corn and soybean crops.
