Argentina produced record wheat crop in 2021/22

The Buenos Aires Grain Exchange (BAGE) reported a record 21.8 mln t of wheat harvested in Argentina in 2021/22. The output exceeded the early estimates of BAGE due to the rains, which delivered enough precipitation for yield increase, Hellenic Shipping News writes.

Wheat production in Argentina in the current season is 2.8 mln t higher than the country's previous record of 19 mln t in 2018/19.

The average yield in the country reached 3.44 t/ha, 21.9% higher from the previous season and 11.5% above the 5-year average. Evenly distributed precipitation in Argentina contributed to wheat yield growth.

Analysts say the harvest will generate USD 4.5 bln in exports and USD 1.45 bln in taxes.

"Lack of precipitation raised concerns, but rains have benefited the main agricultural areas of Argentina," the message reads.

Earlier, BAGE adjusted its crop estimates several times on dry conditions in the country. Lack of precipitation brought concerns about the new corn and soybean crops.

Wheat production in Ukraine in 2021/22 reached 32.44 mln t, the average yield made up 4.59 t/ha.