June 21, 2007
Argentina ups soy forecast by 2 million tonnes
Soy
High yields in the late soy crops led the Agriculture Secretariat to raise its forecast.
Farmers have harvested 94 percent of the 2007/08 soy crop to date, compared with 99 percent at this date last year.
Both the US Department of Agriculture forecasts soy production at 46.5 million tonnes.
Wheat
The increase in the wheat forecast was expected by analysts.
Good soil moisture conditions and higher prices led to increased planting, the Secretariat said.
Farmers have planted 35 percent of the 2007/08 wheat crop to date, according to the Secretariat.
The US Department of Agriculture sees 2007/08 wheat production down just 200,000 tonnes from last year.
Corn
The Secretariat left its estimate for 2006/07 corn production unchanged at 22 million tones. The USDA and Buenos Aires Cereals Exchange see 22.5 million tones.
Sunseed
The Agriculture Secretariat also raised its forecast for 2006/07 sunseed output to 3.62 million tones, compared with 3.44 million tonnes forecast last month.
Farmers have completed the 2006/07 sunseed harvest.
Estimates for Argentina's 2007/08 crop production in millions of hectares (Ha) or millions of tonnes (MT).
|
|
Wheat |
Soy |
Corn |
Sunseed |
|
Agriculture Secretariat |
5.5 Ha |
N.A. |
N.A. |
N.A. |
|
USDA |
14 MT |
47 MT |
24 MT |
N.A. |
|
B.A. Cereals Exchange |
5.4 Ha |
N.A. |
N.A. |
N.A. |
Estimates for Argentina's 2006/07 crop production in millions of tonnes:
`
|
|
Wheat |
Soy |
Corn |
Sunseed |
|
Agriculture Secretariat |
14.3 |
47.2 |
22 |
3.62 |
|
USDA |
14.2 |
46.5 |
22.5 |
3.5 |
|
B.A. Cereals Exchange |
13.8 |
47.1 |
22.5 |
3.4 |
Argentina's historical production estimates in millions of tonnes, according to the Agriculture Secretariat:
|
|
Wheat |
Soy |
Corn |
Sunseed |
|
2005/06 |
12.6 |
40.5 |
14.5 |
3.8 |
|
2004/05 |
16 |
38.3 |
20.5 |
3.7 |
|
2003/04 |
14.6 |
31.6 |
15 |
3.1 |
|
2002/03 |
12.3 |
35 |
14.7 |
3.4 |
|
2001/02 |
15.3 |
30 |
15.4 |
3.8 |
