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First Argentina Dust Bowl in 85 Years Said to Cut Wheat

Argentina’s first dust bowl in 85 years is reducing forecasts for wheat production, officials from the two largest cereals exchange said.

The Rosario and Buenos Aires cereals exchanges will cut their 2012-2013 wheat forecasts, today and tomorrow respectively, reducing estimates to below 10 million metric tons, said the officials, who asked not to be named because the new forecasts haven’t been made public. Exchanges in Rosario, Buenos Aires and Bahia Blanca previously said they expected the grain’s output to be 10.1 million tons.