August 11, 2011

Argentina's 2011/12 wheat crop seen higher from last estimate

The 2011/12 wheat yield of Argentina is expected to come in at 12.5 million tonnes, the Rosario Grains Exchange said in its first estimate of the crop for the season.

Argentina is global top wheat exporter and Brazil is its biggest market.

In its monthly estimate, the Rosario exchange slightly raised its wheat area to 4.5 million hectares from 4.47 million previously, due to "excellent crop conditions, which help us foresee a good output."

The Buenos Aires Grains Exchange estimates Argentina's 2011/2012 wheat area at 4.6 million hectares.

This season's Argentine wheat output is seen at 15 million tonnes by the USDA.