Excessively wet conditions are threatening the development of 34 percent of the 5.35 million hectares of wheat planted in Argentina for the 2017/18 crop. The warning comes just two weeks after the exchange cut its estimate for wheat area from 5.4 million hectares, citing excessive rainfall in Argentina’s central grains belt during the first seven months of the year, resulting in damp conditions and flooding. The exchange had originally forecast wheat planted area at 5.5 million hectares. Still, moisture conditions were optimal in 32 percent of the country’s planted wheat area.