December 4, 2009

 

Argentina wheat forecast may likely be cut

 

 

Argentina's 2009-10 wheat forecast is likely to be lowered if farmers don't bother to harvest the battered fields in the southwest and western fringes of the farm belt, the Buenos Aires Cereals Exchange said in its weekly crop report Thursday (December 3).

 

The exchange forecasts 7.5 million tonnes of wheat this season, but "a greater decrease is expected" due to the low yields and numerous abandoned fields in those areas.

 

Drought through much of the growing season in the south of Buenos Aires province and across La Pampa province caused extensive crop damage, although conditions are good in the central farm belt.

 

To date, farmers have harvested 15 percent of the 2009-10 wheat crop.

 

Conditions are good for soy planting owing to steady showers over the last month, the exchange said.

 

In addition, a dry spell over the next week will allow farmers to make big progress in planting.

 

To date, 65.5 percent of the record 19 million hectares seen going to soy this season had been planted.

 

The Rosario Grain Exchange forecasts soy production of 47 million tonnes, while the US Department of Agriculture expects 53 million tonnes.

 

Corn planting continues to progress slowly as farmers focus on soy.

 

To date, 76.8 percent of the 1.875 million hectares forecast for commercial corn have been planted, according to the exchange.

 

The Buenos Aires exchange hasn't estimated production yet, but the Rosario Grain Exchange sees total corn output of 13 million tonnes.

 

Farmers have planted 78.5 percent of the 1.42 million hectares seen going to sunflower seeds this season. Rainfall over the last week improved conditions and seven to 10 days remain of the optimal planting window, the exchange said.