June 25, 2020 / 7:57 PM / 14 days ago

Argentina dry weather further threatens wheat planting forecast -exchange

BUENOS AIRES, June 25 (Reuters) - The Buenos Aires grains exchange on Thursday said arid conditions affecting various wheat growing regions in Argentina were putting its estimate for the planting of 6.7 million hectares of the cereal at further risk.

The organization’s warning comes just a week after it previously cut its forecast for 2020/21 wheat planting by 100,000 hectares. Planting is 71.3% complete.

“The lack of rain affecting a large part of the western, northern and central (farming) areas, puts at risk the completion of work on the remaining area of ​​planting,” the exchange said in a weekly report.

Regarding 2019/20 corn, the exchange said that conversely the dry climate was driving the harvest of the cereal, which is 78.3% complete and on track for production of 50 million tonnes.

Argentina is a major world supplier of wheat and the third largest global exporter of corn. (Reporting by Maximilian Heath Writing by Adam Jourdan; Editing by Tom Brown)

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