Argentina's Wheat Exports Tumble

摘要

In its mid-January update, the US Department of Agriculture (USDA) maintained its forecast for Argentina's wheat exports of just 5.8 Mt for the current marketing year (July/June). That would be the lowest export volume for 13 years. The projected 5.8 Mt compares with 10.2 Mt exported during 2007/08 and 12.2 Mt in 2006/07. Hot and dry conditions in Argentina have damaged part of the wheat crop which, at an estimated 9.5 Mt, is set to fall by 6.8 Mt, or 42%, from 2007/08.