Argentina Wheat Output Set to Plummet as Corn Production Eases

The United States Department of Agriculture (USDA) has released its latest forecast for Argentina's wheat and corn production, predicting a decline in both crops for the 2026/27 marketing year.

Wheat output is expected to fall from the record 27.92 million tonnes harvested in 2025/26 to 21.6 million tonnes, with average yields projected at 3.27 tonnes per hectare, down from more than 4.1 tonnes per hectare a year earlier.

The sharp decline is attributed to lower yields and a slight reduction in harvested area, which is expected to drop from 6.8 million hectares to 6.6 million hectares.

Wheat exports are forecast to decrease to 15.5 million tonnes from 18.5 million tonnes in the previous season, while ending stocks are also expected to decline to 2.65 million tonnes.

Corn production is projected to ease slightly, with output forecast at 60.5 million tonnes compared to the record 63 million tonnes produced in 2025/26.