AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 127.39 Increased By ▲ 0.35 (0.28%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.80 Increased By ▲ 0.36 (0.87%)
DGKC 87.53 Increased By ▲ 0.68 (0.78%)
FCCL 32.62 Increased By ▲ 0.34 (1.05%)
FFBL 65.02 Increased By ▲ 0.22 (0.34%)
FFL 10.30 Increased By ▲ 0.05 (0.49%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.64 Decreased By ▼ -0.04 (-0.27%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.50 Increased By ▲ 0.04 (0.54%)
MLCF 41.60 Increased By ▲ 0.22 (0.53%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 193.76 Increased By ▲ 3.66 (1.93%)
PAEL 28.30 Increased By ▲ 0.47 (1.69%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 151.90 Increased By ▲ 1.84 (1.23%)
PRL 26.41 Decreased By ▼ -0.47 (-1.75%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 84.02 Decreased By ▼ -1.98 (-2.3%)
TELE 7.70 Decreased By ▼ -0.01 (-0.13%)
TOMCL 35.50 Increased By ▲ 0.09 (0.25%)
TPLP 8.09 Decreased By ▼ -0.03 (-0.37%)
TREET 16.01 Decreased By ▼ -0.40 (-2.44%)
TRG 52.65 Decreased By ▼ -0.64 (-1.2%)
UNITY 26.21 Increased By ▲ 0.05 (0.19%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,785 Increased By 429.6 (0.46%)
KSE30 29,050 Increased By 119.3 (0.41%)

Argentina's 2019/20 wheat harvest is expected at 19.8 million tonnes, the Buenos Aires Grains Exchange said in its weekly crop report on Thursday, citing bad weather as the reason for cutting its previous 21 million-tonne forecast. "Toward the center and south of the agricultural belt, the season has progressed practically without rains of considerable magnitude, and with temperatures below medium levels, which has compromised crop development," the report said.

"Widespread frost and hailstorms have been recorded in areas where crops had been showing better performance, considerably affecting their condition," it said. Argentine wheat harvesting has begun in northern areas centered in the province of Salta, where yields have been favourable, the report added. After advancing 3.6 percentage points during the week, corn planting had reached 24.2% of expected area, the report said.

The exchange last month said it expects a 2019/20 corn harvest of 50 million tonnes. The Rosario grains exchange on Wednesday cut its corn crop forecast to 47.5 million tonnes from a previous view of 50 million tonnes, citing dryness and policy uncertainty ahead of the Oct. 27 presidential election. President Mauricio Macri, a free-markets proponent elected in 2015 with wide support from farmers, is expected to lose to challenger Alberto Fernandez, whose Peronist party has traditionally favoured higher grains export taxes and more government intervention in the economy.

Copyright Reuters, 2019

Comments

Comments are closed.