Argentina's 2010-11 commercial-use corn area is seen to be rising from the previous forecast of three million hectares to 3.15 million hectares, the Buenos Aires Grains Exchange said.

The exchange held its estimate for wheat and soy production. Wheat production would be at a minimum of 12.1 million tonnes while soy production would be at 18.7 million hectares.

Argentina's government forecasts the country's 2010-11 corn production at 26 million tonnes in contrast to USDA's 25 million tonnes. Farmers are expected to use 16.2% more land to grow commercial-use corn this year, the exchange said. Although corn crops are growing well, sowing on the remaining lots will depend on rains which will help to provide the correct amount of ground moisture.

By November 8, farmers had planted 68.5% of lands earmarked for the cereal. "The right conditions will be kept thanks to rains in the coming week," the exchange said about areas of Buenos Aires, Cordoba, and Santa Fe, the country's top three corn-producing provinces.

Planting for the 2010-11 soy season started recently in the South American country, the world's third-largest exporter, amid strong demand for soy from China, the top importer of the oilseed. By November 8, farmers had planted an increase of 13.3% to 26.8% of the 18.7 million hectares earmarked for soy as compared to last year, the exchange said in a weekly crop report. "Rains from a storm are expected to fall on the country's main agricultural areas next weekend," the report said.

The USDA forecasts Argentina's 2010-11 soy crop to be at 50 million tonnes whereas Argentine Agriculture Minister, Julian Dominguez, estimated a harvest of 52 million tonnes. Argentina produced a record of 52.7 million tonnes last season.

Farmers are already gathering the 2010-11 wheat. Despite the exchange keeping an outlook for a crop of 12.1 million tonnes, it believed that the estimation could be higher in key agricultural areas. Argentina has become one of the world's leading suppliers of wheat and attention focused on its 2010-11 crop earlier in the season due to an export freeze in Russia, the third-largest global supplier of the grain.