WHEAT The Argentine wheat harvest advanced nearly 14 percentage points this past week, reaching 30 percent of the total area. Good weather accelerated maturation in some fields at the same time forecasts of weekend rainfall pushed harvesters to move quickly. Yields continue to surprise, with some fields producing at levels comparable to corn. The national average yield stands at 3.59 MT/ha, with isolated fields reaching up to 10 MT/ha. Under this improved scenario, production estimates are rising. The Buenos Aires Grain Exchange increased its estimate by 1.5 MMT to 25.5 MMT — the highest in history and nearly 15 percent above the previous record.

Strong yields, however, present two challenges: quality and logistics. Protein content i...