January 15, 2007

 

Argentina completes wheat harvest

 

 

Argentina has completed the harvest of the 2006/07 wheat crop, producing 13.8 million tonnes, the Buenos Aires Cereals Exchange said in its weekly crop report Friday (Jan 12).

 

The Agriculture Secretariat forecasts 2006/07 wheat production at 13.7 million tonnes.

 

The USDA is expecting 14.2 million tonnes of wheat from the 2006/07 crop.

 

 

Corn

 

As of Jan 12, 96.2 percent of the 2.7 million hectares forecast for corn had been planted, one point ahead of the planting pace on the same date last year, according to the Exchange.

 

Recent rains are aiding the young crop's development, according to the Secretariat.

 

According to the Agriculture Secretariat, Argentina will plant an estimated 3.45 million hectares of corn during the 2006/07 crop cycle, up from 3.18 million in 2005/06.

 

The Secretariat's forecast includes corn destined for animal feed, which the Exchange doesn't include in its estimate.

 

The USDA sees Argentina's 2006/07 corn production at 19 million tonnes.

 

 

Soy

 

As of Friday, farmers had planted 97 percent of the forecast 16.1 million hectares, up 2 points from the planting pace last year, according to the Exchange.

 

Soil moisture levels are good after rainfall over the past week, according to the Secretariat.

 

The Agriculture Secretariat forecasts a record 16 million hectares will be planted with soy in 2006/07.

 

The USDA sees Argentine farmers producing 42.5 million tonnes of soy in 2006/07.