Cresud reported a record planted area in the region, with approximately 28,000 hectares of farmland under ownership, lease, and third-party leasing.

Adverse climate conditions, particularly drought in Argentina, have negatively impacted crop yields, leading to lower operational margins compared to the previous year. Soybean production in Argentina is expected to be 47% lower than anticipated, while corn production is forecasted to be 28% below expectations.

The company expects a recovery in soybean production due to new government announcements regarding pricing, but this will not be reflected until the fourth quarter.