Argentina: Grain and Feed Annual

Post estimates Argentine wheat production to rebound to 19.5 million metric tons (MMT) in marketing year (MY) 2023/24, resulting in wheat exports of 13.7 MMT (including wheat flour as its wheat equivalent). However after the severe drought in MY 2022/23, more rains are needed to recharge soil moisture profiles before the June planting window. Barley exports in MY 2023/24 are forecast up 13 percent at 2.6 MMT on higher production, though exporters are concerned that China may switch back purchases to Australia. Post projects MY 2023/24 corn production up at 54.0 MMT on a return to normal weather. Corn exports are forecast at 38 million tons. Rice exports in MY 2023/24 are also expected to rebound as result of a recovery in production.