January 11, 2005

 

 

Update On Argentina's 2004-05 Soy, Corn Planting

 

Farmers in Argentine had planted 95% of the 2004-05 soybean crop by Saturday, the latest data from the Buenos Aires Cereals Exchange show.

 

This puts the pace of planting up a hair¡¯s breath from 94% a week ago, the exchange said.

 

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

 

The exchange estimates total area planting for 2004-05 at 14.7 million hectares. So far 14 million 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.

 

The crop is evolving particularly well in the northern provinces of Salta and Tucuman, the exchange said. In Cordoba, which is home to more than a quarter of the country's soybean production, good rainfall has allowed the crop to develop well, according to the exchange.

 

CORN

 

For commercial corn crops, 98.5% have already been planted by Saturday, the exchange said.

 

The exchange sees the planted area of exportable corn at 2.53 million hectares. Last year ¡®s area totaled 2.28 million hectares. As of Saturday, farmers had planted 2,491,275 hectares.

 

The exchange said if good planting conditions continue through January, commercial corn production could go up from 13.1 million a year earlier to 17 million tons this year.

 

The USDA forecast for 2004-05 Argentine output is 15.5 million tons.

 

"Despite the elevated temperatures, both the maximums and the minimums, the condition of the crop in almost all zones continues to be favorable, with a high probability of elevated yields for the harvest," the exchange said.