BUENOS AIRES: Argentina’s wheat harvest for the 2022/23 season is expected at 17.7 million tonnes, down from a previous estimate of 18.5 million tonnes, the Rosario Grains Exchange (BCR) said late on Wednesday.

The decrease comes due to a drop in the estimated planting area because of a drought in agricultural areas. The grains exchange also revised upwards its 2021/22 forecast for corn production.

Agricultural regions have suffered significant water shortage since the wheat planting season began in May. BCR now sees areas planted in wheat at 5.9 million hectares (14.6 million acres), down from 6.2 million hectares forecast in June.

Last week, the Buenos Aires Grains Exchange reduced its estimate of the sown wheat area for the fourth time since the new wheat season began, just two months ago. In May, the Buenos Aires exchange estimated a planted area of 6.6 million hectares, and now it expects 6.2 million hectares.