November 16, 2004

Argentina's 2004-05 Soy Crop 30% Planted as of Saturday
 
Argentine farmers had planted 30% of the 2004-05 soybean crop as of Saturday, according to the latest data from the Buenos Aires Cereals Exchange.
 
The pace of planting is up from 28.5% from a year ago, when farmers had planted 14.5 million hectares. Last year farmers produced 32.2 million metric tons of soy, the exchange said.
 
The exchange sees the 2004-05 area at 14.72 million hectares. About 4,422,150 hectares have been planted so far.
 
Most of the planting this season will take place in eastern Cordoba, center-south Santa Fe, eastern Entre Rios and northern Buenos Aires, the exchange said.
 
The crop has received healthy amounts of rain, and soil moisture levels are expected to rise in northern provinces in December. This could lead to an increase in planted area, the exchange said.
 
Neither the exchange nor the Agriculture Secretariat has formally forecast 2004-05 soybean production.
 
The US Department of Agriculture sees Argentina's 2004-05 soy output at 39 million tons.
 
CORN
 
Meanwhile, farmers had also planted 72.4% of the 2004-05 commercial corn crop by Saturday. This is up from 59.7% a year ago.
 
The exchange raised its estimate for planted area of commercially tradable corn to 2.47 million hectares, up from 2.42 million a week earlier. The revised estimate puts area up from 2.23 million hectares last year.
 
The new forecast is attributed to changes in the way the exchange analyzes crop data and not because of improved climatic conditions. That said, recent rain in the corn belt has improved the condition of the crop.
 
This will "assure good foliar development and plant stand," the exchange noted.
 
As of Saturday, farmers had planted 1,787,840 hectares.
 
Argentina produced 13.1 million tons of corn in 2003-04, according to the exchange. The USDA has forecast 2004-05 output at 15.5 million tons.