The Buenos Aires Grains Exchange of Argentina revised down its projection for the 2023/24 corn crop to 52 million metric tons, attributing the adjustment to damage caused by Spiroplasma bacteria and the associated stunt disease. The exchange expressed concerns over the ongoing impact of the disease and did not rule out the possibility of further reductions in the forecast.
The rise in maize leafhoppers, carriers of the harmful bacteria responsible for stunt disease, has intensified the agricultural challenges faced by corn growers. This disease impedes plant growth and can lead to corn cobs with irregular or missing kernels. Initially anticipated at 54 million tons and later revised from an initial forecast of 56.5 million tons, the current projection reflects the impact of the disease on Argentina’s corn harvest.
Argentina, ranked as the world’s third largest corn exporter, has witnessed a decline in the crop’s overall condition by eight percentage points due to the prevalence of stunt disease, particularly affecting northern regions within the country’s agricultural core.
The exchange highlighted that ongoing assessments are crucial as the full extent of the damage is still being evaluated, leaving room for potential further adjustments in forecasts.
As for soybeans, recent rainfall has impeded harvesting progress, with only 1.9% of fields harvested thus far. The exchange estimates soybean production for the season at 52.5 million tons. However, northeastern regions are grappling with challenges such as high temperatures and insufficient rainfall, impacting crop health.
If current projections materialize, this season would mark a shift from the past seven years, with soybean production surpassing corn harvest in Argentina. This reversal was last observed in the 2016/17 season when 53.5 million tons of soybeans were produced compared to 42 million tons of corn.