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Corn sowing intentions for 2024/25 fell by 30% compared to last year. It is important to remember that a year ago, corn made technical progress, and was the crop in which most investments were made. It was the most grown crop in the area, as 30% more was planted in the region. It also played a very important role as a refuge of value in the face of the uncertainty of 2023. That year the corn pre-season showed a very intense activity from the beginning. Today, on the other hand, the cereal pre-crop season in the region is lethargic when there is very little time left for sowing, just less than a month and a half.
For corn 2024/25 there is a 10 to 60% drop compared to the last season. Commercial activity in the core region is at a standstill and producers are postponing decisions.
If conditions change, producers could still make decisions on the spot. An improvement in the international price and good rains at the end of winter would be two fundamental factors.
Regional technicians highlight two factors that are influencing decision-making among corn producers. The first is the fear of the leaf hopper. The second factor is the prices at harvest; the current margins of this crop are not encouraging.
July 25, 2024/ Rosario Stock Exchange/ Argentina.
www.bcr.com.ar
