The drought in key regions of Argentina has provoked a new reduction in the estimate of the Buenos Aires Cereal Exchange for its wheat output. The country is expected to harvest 3 million fewer metric tons than previously forecast for total production of 17.5 million metric tons. This level is 4.9 million metric tons below last year. The lower yields are likely to result in lower farm equipment purchases in the region as well.
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Today, we’re looking at Austria-based Pessl Instruments, an agtech provider operating under the METOS brand. Irrigation equipment manufacturer Lindsay Corporation recently acquired a minority interest in Pessl Instruments following a strategic partnership the 2 companies announced in May 2023.
