Argentine soy, corn planting seen boosted by rains
Double Wheat Whammy
Argentine wheat has already been planted and farmers are evaluating damage done by recent floods, particularly in Buenos Aires, which accounts for more than half of Argentine output.
Low production was already expected as growers shifted toward soy and other more profitable crops to avoid export curbs on wheat and corn.
Corn area is seen holding steady at about 5 million hectares this season thanks to corn's higher profitability, while the Agriculture Ministry estimates wheat area fell 20 percent this
season to 3.7 million hectares.
"On top of that, it rained too much during all of August and part of September," said farm consultant Sergio Conterjnic, a former head of the ArgenTrigo wheat growers chamber.
"The flooding affected the heart of the wheat belt. We know there will be losses but we still do not know how severe they will be," Conterjnic said.