LatinNews Daily - 24 April 2023

In brief: Argentina to up wheat planting area

* The Buenos Aires grain exchange has reported that Argentina is expected to plant 6.7m hectares (ha) of wheat in the 2023/24 season, up 9.8% on the 6.1m ha planted in the previous season. According to the grain exchange, the attempt to expand the area of wheat planted derives from a financial need for liquidity as a consequence of the poor results during the 2022/23 season, which has been heavily affected by drought, and because of the economic incentives provided by an improvement in the input/output ratio. However, the grain exchange identifies several factors that generate uncertainty in the short term, including the weather conditions forecast for the coming weeks, the availability of seeds and financing, as well as “the economic situation in general”.

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