June 15, 2009
Argentine soy, corn harvest seen to tumble due to bad weather
Argentina's soy and corn harvests will tumble due to hot, dry weather, the Rosario Board of Trade said.
Argentina-based exchange Rosario said the country's farmers will produce 31.9 million tonnes of soy this year, a 31-percent drop from the prior harvest, while corn output will fall 41 percent to 13.1 million tonnes.
The exchange said the declines were caused by a combination of high temperatures in February and March and low rainfall.
It also said the severe damage that the Argentine soy crop suffered exceeded even the most negative expectations
The soy forecast is 100,000 tonnes lower than that of the Buenos Aires Cereals Exchange, while the corn estimates is 400,000 tonnes higher.
