Argentina's wheat crop continued to remain under pressure amid growing unfavorable weather conditions, which are casting doubts of further crop loss. Wheat planting in Argentina was 100% completed in the week to Aug. 19, but recent frost conditions, with variable intensity, have hit most parts of its key wheat regions, rendering current growth conditions unfavorable for the crop, the Buenos Aires Grain Exchange said in its report released on Aug. 20.
Brazil's National Supply Company (Conab) said the current wheat crop (2019/20) has the potential to be a record. As a result, Brazilian cereal imports should fall. The agency believes that production should reach 6.8 million tons, 21.2% more than in the previous harvest.
Argentina's wheat planting area will rise again in 2019/20, industry experts anticipated, which could mean another bumper harvest after a record wheat crop last season. The area could reach up to 6.9 million hectares, analysts and farmers said, which would be the fourth consecutive increase and a rise from 6.3 million hectares in the 2018/19 season when the country produced a record 19.5 million tons of wheat.