Argentine Corn Yields Exceed Forecasts as Harvest Chugs Along

By Maximilian Heath

BUENOS AIRES, June 19 (Reuters) – Corn yields in some parts of Argentina are surpassing initial expectations for the 2024/25 crop, the Buenos Aires Grains Exchange said on Thursday, though it maintained its overall harvest forecast at 49 million metric tons as excessive moisture slowed fieldwork.

Many agricultural regions in Argentina, the world’s third-largest corn exporter, are still dealing with overly wet fields following heavy storms that caused flooding in May, delaying harvesting.

“Harvesting is progressing with grains above optimal moisture levels, seeking to avoid losses from stems bending or breaking. However, the yields obtained remain in line with or even exceed projections,” the exchange said in its weekly crop report.

The corn harvest advanced by only 2.9 percentage points over the past week, reaching just under 50% of the planted area nationwide, the exchange said.

For soybeans, the exchange noted that harvesting of the 2024/25 crop, estimated at 50.3 million metric tons, was 96.5% complete. Argentina is the world’s leading exporter of soybean oil and meal.

Wheat Planting Accelerates

In contrast, the planting of Argentina’s 2025/26 wheat crop picked up considerable speed in the last seven days, jumping 21.8 percentage points to cover 60.3% of the estimated 6.7 million hectares intended for the new season, the report added.

Argentina is a top exporter of wheat.

(Reporting by Maximilian Heath; Editing by Daniel Wallis)