February 16, 2010
Argentina to allow 10 million tonnes of corn exports in 2010
Argentina will allow 10 million tonnes of corn to be exported this year, the Agriculture Ministry said Friday (Feb 12, 2010).
The country tightly regulates corn and wheat exports, allowing shipments only after sufficient stocks are set aside for domestic supply. Excellent growing conditions have boosted this year's corn crop, with total output likely to be significantly higher than early expectations.
This week, the Buenos Aires Cereals Exchange raised its forecast for commercial corn to 19.3 million tonnes, up 5% from last week's estimate. That's up 32.5% from last season's drought-battered crop.
