November 28, 2006

 

Argentina's soy planting slows on dry weather

 

 

The seeding pace for Argentina's 2006/07 soy crop slowed over the past week because of dry conditions in some areas, according to the Agriculture Secretariat's latest crop report.

 

As of Nov 23, farmers had planted 53 percent of the record 15.9 million hectares forecast for soy this year, compared with 55 percent at this time last year, the Secretariat said, The USDA estimates that Argentina will produce 41.3 million tonnes of soy from the 2006/07 crop.

 

 

Wheat

 

Argentina's 2006/07 wheat harvest is well ahead of last year's pace with conditions generally good despite early drought, the Agriculture Secretariat said.

 

As of Nov 23, farmers had brought in 27 percent of the 2006/07 wheat crop, compared to 8 percent at this time last year, according to the Secretariat.

 

The Secretariat forecasts 2006/07 wheat production at 13.6 million tonnes, while the US Department of Agriculture forecasts production of 13.25 million tonnes. The Buenos Aires Cereals Exchange puts production at 13.8 million tonnes.

 

 

Corn

 

Farmers had planted 75 percent of the area planned for corn, in line with the seeding pace at this time last year, the Secretariat said.

 

Argentina will plant an estimated 3.4 million hectares of corn during the 2006/07 crop cycle, up 6.8 percent from 3.18 million in 2005/06, according to the Agriculture Secretariat.

 

The USDA forecasts Argentina's 2006/07 corn production at 17.5 million tonnes.