June 25, 2007

 

Argentina's soy output projection increases to 47.5 million tonnes

 

 

The Buenos Aires Cereals Exchange upped its forecast for 2006-07 soy production by 400,000 metric tonnes again in its weekly crop report Friday. Production is now estimated at 47.5 million tonnes.

 

The exchange said record yields of almost three tonnes per hectare resulted from heavy rainfall late in the season.

 

To date, farmers have harvested 99.7 percent of the soy crop, the exchange said.

 

This week, the Agricultural Secretariat also raised its estimate for 2006-07 soybean production by 2 million tonnes to 47.2 million tonnes.

 

Farmers surged ahead with 2006-07 wheat planting due to beneficial rains this week.

 

Growers have planted 40 percent of the 5.4 million hectares forecast for wheat, a 12-point advance from last week and three points ahead of the pace at this time last year, according to the exchange.

 

On the other hand, farmers have harvested 90.2 percent of this year's corn crop, 3.4 points behind last year's pace.

Yields from the 2006-07 crop are expected to total eight tonnes per hectare, with total production of 22.5 million tonnes, according to the exchange.

 

The Agriculture Secretariat forecasts 22 million metric tonnes of corn coming from this year's crop.

 

Estimates for Argentina's 2007-08 crop production in millions of

hectares (Ha) or millions of metric 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
BA Cereals Exchange	5.4 ha	N/A	N/A	N/A

 

Estimates for Argentina's 2006-07 crop production in millions of metric tonnes

	Wheat	Soy	Corn	Sunseed
Agriculture Secretariat	14.3	47.2	22	3.62
USDA	14.2	46.5	22.5	3.5
BA Cereals Exchange	13.8	47.5	22.5	3.4

 

Argentina's historical production estimates in millions of metric tonnes,

according to the Agriculture Secretariat:

	Wheat	Soy	Corn	Sunseed
Jun-05	12.6	40.5	14.5	3.8
May-04	16	38.3	20.5	3.7
Apr-03	14.6	31.6	15	3.1
Mar-02	12.3	35	14.7	3.4
Feb-01	15.3	30	15.4	3.8