May 20, 2011
 

Argentina caps 2011 soy output at 49.2 million tonnes

Argentina's 2011 soy crop will not exceed 49.2 million tonnes as the harvest nears completion, the Buenos Aires Cereals Exchange said.

Harvesting advanced 6.5 percentage points in the past week and is now 85.5% complete, the exchange said.

Argentina's farmers will reap less than last year's record 55 million tonnes after dry weather from November to January stressed plants in the Pampas agricultural zone. The drier weather will allow harvesting, usually done between March and May, to accelerate in the coming week, the exchange said.

Argentina is the world's third-largest soybean grower behind the US and Brazil.

The exchange maintained its corn harvest estimate at 20 million tonnes, and left its wheat-planting forecast unchanged at 4.95 million hectares (12.2 million acres).