According to the information possessed by the experts of the Oil World, in the current year sowing area under wheat in Argentina may be extended to 4.3-4.5 million hectares, against 3.65 million hectares a year earlier.
The development of such tendency is due to several reasons. First, current soil moisture content in the country is at an optimal level for growing wheat. Second, current high prices of grain on the world market may also stimulate Argentinean farmers to increase their grain production. Third, concerns about decline of wheat export from Black Sea region also contributes to improving export potential of Argentine goods.
As for the wheat yield in Argentina during 2014/15MY, under favorable weather conditions, it may total to 13-14 million tons, against 9.2 million tons a year earlier. Therefore, grain export may increase to 7-8(3) million tons.