The Rosario grains exchange in Argentina has predicted that the country’s upcoming 2024/25 wheat harvest could approach the record set in the 2021/22 season, pegging its estimate at 21 million metric tons.
According to the exchange, the planting of the wheat crop itself could also set a record, with an estimated area of 6.92 million hectares. The exchange attributed this boost in wheat planting to “loaded soil profiles, good margins and the need to rotate (crops) in the central and northern parts of the country after the impact of the leafhopper.”
The leafhopper insect, which carries a bacteria that stunts plant growth, has devastated crops in recent months. The exchange noted that as the corn crop harvest progresses, the late-season leafhopper damage will begin to show.
Despite the challenges posed by the leafhopper, the exchange maintained its estimate for the ongoing corn harvest at 47.5 million tons, though it warned that a cut could be on the horizon.
As for the soy harvest, the exchange said that a lower planting area than expected was compensated by improved output, leading it to hold its estimate for the crop at 50 million tons.
The potentially record-breaking wheat harvest in the 2024/25 season is seen as a positive development for Argentina, which is a major global producer and exporter of the grain. The country’s ability to ramp up wheat production could help alleviate global supply concerns and potentially contribute to more stable food prices.