Argentina exchange cuts 2023/24 corn harvest estimates on leafhopper plague

Argentina's Rosario grains exchange on Wednesday lowered its estimate for this season's corn harvest, citing the leafhopper insect which has heavily hit the crop.

The leafhopper, which carries a stunt disease that damages the cobs and kernels of the plant, has ruined around 20% of the corn crop this season, the exchange added, while cutting its harvest estimate to 47.5 million metric tons.

Argentina's 2024/25 corn sowing area, meanwhile, is seen at a record 8.89 million hectares, the exchange said, topping the previous year's planting.

The exchange held its estimate for the current soybean harvest at 50.0 million tons, though it cautioned harvesting has been delayed by rains and high humidity.

With the soybean reaping delayed and the corn harvest brought in early due to the leafhopper, "the sector is worried about finishing a very difficult harvest," the exchange said in its report.

Meanwhile the 2024/25 wheat planting area should be "much higher" than the 6.9 million hectares in the 2021/22 cycle, which saw a record harvest, the exchange added.