The Buenos Aires Grain Exchange said on Thursday that the corn production in Argentina may continue to decline in 2022/2023 because of insufficient rainfall during the key period for production formation.

Earlier, the Exchange had lowered the corn production in Argentina to 44.5 million tons, lower than the initial expectation of 50 million tons in September last year.

On Thursday, the Exchange pointed out in a report that the early frost in the next few days may further damage the corn crops in the south of main agricultural areas in Argentina. The cold and dry polar wind will lead to a significant drop in temperature, thus resulting in a relatively-low temperature and a risk of local frost. As pointed out by the Exchange, there would be no rain in the central and eastern regions most greatly affected by drought.