March 21, 2005

 

Argentina's 2004-05 corn, soybean harvest update

 

 

Argentine farmers had collected 18 percent of the 2004-05 corn crop by Thursday, latest Agriculture Secretariat data show.

 

That puts the pace of collection up from 11 percent a week ago but down from 27 percent a year ago.

 

By Thursday, farmers had collected 557,880 hectares. Planted area totals 3.423 million hectares, up from 2.99 million a year ago.

 

The crop is developing well and producing higher-than-average yields in many areas, the Secretariat said.

 

The Buenos Aires Cereals Exchange earlier this week that farmers had harvested 15 percent of the crop by Saturday.

 

Argentina produced 13.1 million tonnes of corn in 2003-04, according to the exchange. The Secretariat has estimated output for that period at 13.5 million tonnes.

 

The U.S. Department of Agriculture sees 2004-05 Argentine output at 19.5 million tonnes while the exchange puts it at 19.2 million tonnes. The Secretariat sees it at 19 million tonnes.

 

Soybeans

 

Finally, the 2004-05 soybean crop is also evolving well, the Secretariat said, without giving information about the pace of collection.

 

Many farmers have already begun to collect the crop.

 

Planted area totals 14.205 million hectares, down from 14.5 million a year earlier.

 

The exchange sees area at 14.67 million hectares.

 

The Secretariat has forecast 2004-05 soybean production at 37.5 million tonnes.

 

The exchange estimates 2004-05 output at 37.7 million tonnes, while the USDA sees it at 39 million.