May 9, 2006

 

Argentina's 2005/06 soy harvest seen at 40.7 million tonnes

 

 

Argentina's farmers will harvest a record 40.7 million tonnes of 2005/06 soybeans, according to the latest forecast from the Buenos Aires Cereals Exchange.

 

If the forecast holds, it would put production up from 38.85 million tonnes a year ago.

 

Production is up because farmers planted around one million hectares more soy this season. In many areas soybeans are Argentina's most profitable crop. Meanwhile, yields are better than expected in regions that are not traditionally planted with soybeans, the Exchange said.

 

Farmers had harvested 77.7 percent of the soybean crop by Saturday, the Exchange reported Monday (May 8).

 

That puts the collection pace up 2.2 percentage points from a year ago.

 

As of Saturday farmers had collected 11.99 million hectares, putting production so far at 32.434 million tonnes.

 

The average yield last week was 2.7 tonnes/hectare, little changed from a week ago but down from 3.05 tonnes/hectare a year ago, when nearly ideal weather lifted yields.

 

Planted area totals 15.62 million hectares, up from 14.67 million hectares a year earlier.

 

The US Department of Agriculture sees Argentina's soybean production at 40.5 million tonnes while the Agriculture Secretariat has put it at 40 million.

 

 

Corn

 

Farmers had also harvested 57.3 percent of the 2005/06 corn crop by Saturday, putting the collection pace down 10 percentage points from a year earlier, despite a decline in area.

 

As of Saturday farmers had harvested 1.262 million hectares, putting production so far at 8.052 million tonnes.

 

The average yield last week was 6.38 tonnes/hectare.

 

The USDA has forecast Argentina's 2005/06 corn output at 14 million tonnes while the Exchange puts it at 14.4 million tonnes, way down from about 19.62 million a year earlier.

 

Production estimates are down because farmers planted less corn and dry weather damaged what was planted. Planted area totals 2.26 million hectares, down from 2.63 million hectares a year ago.

 

The 2005/06 area, including corn grown for use as animal feed, totals around 2.85 million hectares.

 

Argentines plant corn September through January and harvest it February through July.