March 23, 2007

 

Argentina sees 2006/07 soybean output at 45.6 million tonnes

 

 

Argentine farmers will harvest a record 45.6 million tonnes of 2006/07 soybeans, the Agriculture Secretariat said late Wednesday (Mar 21) in its monthly crop report for March.

 

That's more than its previous forecast of between 42.5 and 44.5 million tonnes.

 

The secretariat kept unchanged its estimate for the planted area of soybeans at 16.1 million hectares. This puts the area up 5 percent from 15.329 million a year ago.

 

Area is seen up in part because poor weather prevented farmers from sowing as much corn or wheat as planned and those fields instead were planted with soybeans. Farmers, too, stepped up soy acreage because of its higher price compared with other crops, the secretariat said.

 

In 2005/06, Argentina produced a record 40.5 million tonnes of soy, according to the secretariat.

 

The US Department of Agriculture has forecast Argentina's 2006/07 soybean output at 44 million tonnes.

 

 

Corn

 

Meanwhile, the secretariat adjusted its forecast for 2006/07 corn production to 21.6 million tonnes from a previous expectation of between 21 and 22 million tonnes.

 

The secretariat estimated the planted area of 2006/07 corn at 3.53 million hectares, up from 3.5 million a month earlier. If the forecast holds, it would put area up 10.7 percent from the previous season's planted area of 3.19 million hectares.

 

Area and output are up mainly because of improved weather during the planting season.

 

Argentina produced 14.5 million tonnes during 2005/06 corn harvest, according to the Secretariat.

 

The USDA has forecast Argentina's 2006/07 corn output at 21 million tonnes.

 

 

Wheat

 

The secretariat held its forecast for 2006/07 wheat production at 14 million tonnes.

 

The secretariat raised the estimate for planted area of 2006/07 wheat to 5.4 million hectares, up from a 5.3 million forecast a month earlier. If the forecast holds, it would put area up 3.6 percent from the previous season's planted area of 5.21 million hectares.

 

Argentina produced 12.6 million tonnes during 2005/06 wheat harvest, according to the Secretariat.

 

The USDA has forecast Argentina's 2006/07 wheat output at 14.2 million tonnes.