December 18, 2006

 

Crop conditions good as Argentina brings in wheat crop

 

 

Argentine farmers have brought in over half of the 2006-07 wheat crop, the Agriculture Secretariat said in its weekly crop report Friday.

 

Yields are mixed in some areas due to early drought but crop conditions are generally good, the Secretariat said.

 

As of Thursday, farmers had brought in 51 percent of the 2006-07 wheat crop, compared to 46 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.

 

Farmers had planted 84 percent of the area planned for corn, in line with the planting pace at this time last year, the Secretariat said.

 

Argentina would 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.

 

As of Thursday, farmers had planted 73 percent of the record 15.9 million hectares forecast for soy this year, compared with 76 percent at this time last year, the Secretariat said.

 

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

 

Argentina would plant 2.47 million hectares with sunseed in 2006-07, up 4.4 percent from last year, according to the Secretariat.

 

The USDA estimates that Argentina would produce 4 million tonnes of sunseed from the 2006-07 crop.