February 5, 2007

 

December and January rainfall boost Argentina's 2006/07 corn crop

 

 

Argentina's 2006/07 corn crop is in excellent condition, with above-average yields expected in many areas due to beneficial rainfall in December and January, the Buenos Aires Cereals Exchange said in its weekly crop report Friday (Feb 2).

 

Argentina will produce a record 21.5 million tonnes of corn from the 2006/07 crop, according to the Exchange.

 

The new record is due to "the excellent yields expected" and high prices, which spurred late planting and increased area in the north of the country, the Exchange said.

 

The Agriculture Secretariat expects Argentina to produce 21 million tonnes of corn this year. The USDA forecasts 19 million tonnes.

 

 

Soy

 

"Even though rainfall was light (this week) over most of the areas planted with soy, soil moisture levels were sufficient to maintain the very good condition of the crop," the Exchange said.

 

The Exchange sees a record 16.1 million hectares planted with soybeans this year.

 

The Agriculture Secretariat sees a record 43 million tonnes of soybeans coming from the 2006/07 crop, while the US Department of Agriculture forecasts production of 42.5 million tonnes.

 

 

Sunseed

 

As of Friday, farmers had harvested 20 percent of the 2006/07 sunseed crop, the Exchange said.

 

Yields are down 20 percent compared to last year as drought early in the growing season affected the crop, according to the Exchange. However, yields in other areas not yet ready for harvest aren't expected to be affected.

 

The Exchange forecasts sunseed area at 2.385 million hectares, but hasn't yet forecast production.

 

The Agriculture Secretariat sees 5 million tonnes of sunseeds coming from the 2006/07 crop.

 

The USDA estimates that Argentina will produce 4 million tonnes of sunseed from the 2006/07 crop.

 

 

Wheat

 

The 2006/07 wheat harvest is complete, with 13.8 million tonnes produced, according to the Exchange.

 

The Agriculture Secretariat forecasts 2006/07 wheat production of 14 million tonnes.

 

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