Argentina government holds soya and corn estimates in monthly report

Argentina’s agriculture ministry left unchanged its forecasts for 2012/13 soyabean production of 51.3 million tonnes and record-high corn output of 25.7 million tonnes, a monthly crop report issued by the government on Thursday showed. The South American grains powerhouse is the world’s No 3 exporter of soyabeans and corn. In the 2011/12 season, Argentina’s soyabean output was 40.1 million tonnes while its corn harvest came in at 21.2 million tonnes. 

As of April 11, the ministry’s report said, 25 percent of Argentina’s 2012/13 soya crop had been collected, with yields reduced in north-west Argentina and in Santiago del Estero province by dry weather late in the growing season. “However,” it added, “the good yields that are being recorded in other zones make it possible to keep our output forecast unchanged”. 

The report said 36 percent of the 2012/13 corn crop had been brought in as of a week ago. Also on Thursday the Buenos Aires Grains Exchange issued its weekly report, saying 38.6 percent of Argentina’s 2012/13 soya had been brought in. That marked an increase of 14.6 percentage points from a week earlier. 

It said average yields had drifted 1.7 percent lower since the exchange’s previous report on April 11. The exchange expects a total soya crop of 48.5 million tonnes this season. Turning to corn, the exchange said 31.7 percent of Argentine fields had been harvested as of Thursday, marking progress of 3.5 percentage points during the week. It expects a 25-million-tonne commercial-use corn crop this season. 

Copyright Reuters, 2013

Leave a Reply

Your email address will not be published. Required fields are marked *