January 4, 2005

 

 

Argentina's 2004-05 Soy Crop 94% Planted As Of Monday

 

Argentine farmers had planted 94% of the 2004- 05 soybean crop as of Monday, according to the latest data from the Buenos Aires Cereals Exchange.

 

The exchange did not provide data to compare the pace of planting with the previous year.

 

It said rain in Cordoba and Tucuman slowed planting in the remaining areas, yet helped the development of the crop that's already in the ground. Recent rainfall also benefited crop development in northeastern Buenos Aires. A forecast of rain later this week is also expected to help development in parts of Buenos Aires, Cordoba and Santa Fe.

 

Last year, farmers planted 14.5 million hectares and harvested 32.2 million metric tons of soy, according to the exchange.

 

The exchange sees the 2004-05 area at 14.7 million hectares. So far some 13,817,400 hectares have been planted.

 

Neither the exchange nor the Agriculture Secretariat has formally forecast 2004-05 soybean production.

 

The US Department of Agriculture sees Argentina's 2004-05 soy output at 39 million tons.

 

CORN

 

Meanwhile, farmers had also planted 98.1% of the 2004-05 commercial corn crop by Monday, with only smaller fields in the north still to be planted.

 

The evolution of the crop is excellent, thanks to "very favorable" soil humidity, especially in northern Buenos Aires - a major corn area where yields are on track to be "very much higher" than in the previous season, the exchange said. Sufficient rain helped planting, the exchange said, adding that this should ensure beneficial crop development and "high yields."

 

The exchange sees the planted area of exportable corn at 2.53 million hectares. Last year area totaled 2.28 million hectares. As of Monday, farmers had planted 2,482,150 hectares.

 

The exchange said if the beneficial planting conditions continue through January, production of commercial corn could reach 17 million tons, an estimate that is more than the previous week's forecast of 16.4 million tons. The USDA has forecast Argentine 2004-05 output at 15.5 million tons.

 

Argentina produced 13.1 million tons of corn in 2003-04, according to the exchange.

 

SUNSEED

 

Farmers have finished planting the 2004-05 sunseed crop, the exchange said, adding that rain is benefiting the development of the crop.

 

The exchange said planted area for 2004-05 sunseed totals 1.92 million hectares, up from 1.8 million a year ago.

 

In 2003-04, Argentina produced 3.24 million tons of sunseed, according to the exchange.

 

The USDA has forecast 2004-05 sunseed production at 3.4 million tons.