December 12, 2006

 

Argentina's wheat harvest well ahead of 2005/06 pace

 

 

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 in its weekly crop report Monday (Dec 11).

 

However, the lack of sufficient rainfall in November affected yields in some areas of Buenos Aires Province, where 56 percent of Argentina's wheat is grown, the Secretariat said.

 

As of Dec 7, farmers had brought in 43 percent of the 2006/07 wheat crop, compared with 23 percent at this time last year, according to the Secretariat.

 

The Secretariat forecasts 2006/07 wheat production at 13.6 million tonnes, while on Monday the US Department of Agriculture raised its production forecast to 14.2 million tonnes from the 13.25 million tonnes forecast last month. The Buenos Aires Cereals Exchange puts production at 13.8 million tonnes.

 

 

Corn

 

Farmers had planted 81 percent of the area planned for corn, up from 79 percent 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 also raised its forecast for Argentina's 2006/07 corn production to 19 million tonnes, compared with 17.5 million tonnes forecast last month.

 

 

Soy

 

As of Dec 7, farmers had planted 65 percent of the record 15.9 million hectares forecast for soy this year, compared with 69 percent at this time last year, the Secretariat said,

 

The USDA estimates that Argentina will produce 42 million tonnes of soy from the 2006/07 crop.