BUENOS AIRES: Argentina could harvest more than the currently forecast 21.5 million tonnes of 2021/22 wheat if yields continue to come in higher than expected, the Buenos Aires Grains Exchange said in a report on Thursday, with 89.7% of the crop harvested so far.

Last week the exchange raised the harvest estimate to a record 21.5 million tonnes, citing good yields for increasing its forecast from a previous 21 million tonnes.

“The advance of harvesting has shown improved yields collected in key sectors of southern Buenos Aires province. If this improvement is sustained toward the end of the harvest, the production projection could be raised again,” it said.

The entire wheat crop should be collected by the end of January. Weather on the Pampas grains belt has been wetter than initially forecast, as dryness associated with the La Nina climate phenomenon has been less severe over recent months.

Argentine farmers have planted 81.4% of expected 2021/22 soy area and 70.7% of corn area, the exchange said. It expects the soy harvest at 44 million tonnes, with corn seen at a record 57 million tonnes.