Argentina’s wheat exports will drop further than had been thought, undermined by wet conditions which, after preventing some sowings, have raised concerns over crop development too. The US Department of Agriculture’s Buenos Aires bureau pegged Argentina’s wheat exports in 2017-18, on a December-to-November basis, at 10.8m tonnes, a drop of 2.2m tonnes from the record high expected for the current season. The figure is 700,000 tonnes lower than the USDA’s official estimate, and represents a second downgrade in days, after the International Grains Council last week cut by 400,000 tonnes to 10.9m tonnes its forecast for shipments.