March 11, 2004

Mexico's 2003-04 Corn Estimate Revised Up

Mexico's 2003/04 corn production is estimated at 20.0 million tons, up 1.0 million tons or 5% from last month and up 0.72 million tons or 4% from last year. Harvested area is estimated at 7.6 million hectares, up 0.5 million or 7% from last month, the U.S. Department of Agriculture said Wednesday in its March "World Agricultural Production" outlook.
 
The changes reflect the government of Mexico's reports of better-than- expected results in the main growing areas due to improved weather for the summer crop. Less-than-normal rainfall during May and June across parts of the central plain was a concern at a time when the reservoir levels at important irrigation sites in the region were at historic lows, the USDA said.
 
Recent reports said that with the resumption of mid-season rainfall, which recharged moisture-deficient fields, plants apparently took advantage of Mexico's long growing season to continue grain filling.