Argentina Rains Help Pump Up Soybean, Corn Crop Forecasts

Mar 03, 2021

Abundant rains in recent weeks in Argentina have lifted forecasts for soybean and corn harvests, according to a revised outlook by the Rosario grains exchange, a major boost for the grains producer amid a global food price rally.

The exchange raised its forecast for the 2020/21 soybean harvest to 49 million tonnes, versus 47 million previously, and for corn to 48.5 million tonnes from 46 million earlier, when dry conditions had raised concerns over crops.

The exchange said in the monthly report sent to Reuters early on Thursday that the rains in recent weeks had been a "turning point" in the season and banished any fears about a repeat of the 2018 drought that caused heavy crop losses.

"The specter of the 2018 productive disaster remains behind us," the exchange said in the report.

Argentina is the world's top exporter of soybean oil and meal, and the third largest of corn, but lower rainfall in recent months due to a moderate La Niña weather phenomenon had caused uncertainty over harvests from the country.

Click here to see more...

Video: Developing disease resistance in new wheat varieties

Dr. Colin Hiebert, research scientist with Agriculture and Agri-Food Canada – Morden, is focused on developing new tools that wheat breeders can use to improve, diversify and strengthen disease resistance in new wheat varieties. This includes new genomic tools that address resistance to five diseases including: Fusarium head blight, leaf rust, stripe rust, stem rust and common bunt.

Learn more about how research conducted at AAFC-Morden will impact wheat variety development, production and profitability for the future. This research is part of the Canadian National Wheat Cluster and funding is provided through the Sustainable Canadian Agricultural Partnership, Agriculture and Agri-Food Canada, Alberta Grains, Sask Wheat, Manitoba Crop Alliance, Western Grains Research Foundation and Canadian Field Crop Research Alliance.