December 23, 2003

Argentina's 2003-04 Wheat Output Up 6%

Argentina's farmers will harvest at least 12.9 million metric tons of wheat in 2003-04, the Buenos Aires Cereals Exchange estimated.

This would put 2003-04 output up about 6% from the previous year, when Argentina produced some 12.16 million tons, according to the exchange.

Production is seen higher thanks to better-than-expected yields. Yields in Cordoba and Santa Fe are up 33% from the previous year, the exchange said.

Collectible area, estimated at 5.52 million hectares, is down from 5.8 million in 2002-03.

As of Dec. 20, farmers had collected 50.7% of the 2003-04 wheat crop, the exchange reported. This is up from 40.1% a week ago. The exchange did not compare the pace of planting with that of the previous year.

Around 2,787,995 hectares have been collected so far, putting production at 6,420,709 metric tons.

The average yield so far is 2.34 tons per hectare, up from 2.3 tons a week ago, according to the exchange. This is below the average yield of 2.66 tons/hectare forecast by the U.S. Department of Agriculture.

The U.S. Department of Agriculture has estimated 2003-04 corn output at 12.5 million tons.

However, the Agriculture Secretariat has estimated 2003-04 output at 12.4 million tons, compared with 12.3 million tons last year.