December 25, 2006

 

Argentina to up corn area on recent rainfall

 

 

Argentina's farmer will plant 50,000 more hectares with corn this year due to favourable rainfall over the past week, the Buenos Aires Cereals Exchange said Friday (Dec 22).

 

The Exchange upped its estimate for 2006/07 corn area to 2.7 million tonnes from the 2.65 million tonnes forecast last week.

 

As of Friday, 88.8 percent of the area forecast for corn had been planted, down 1.2 points from the same date last year, according to the Exchange's weekly crop report.

 

According to the Agriculture Secretariat, Argentina will plant an estimated 3.45 million hectares of corn during the 2006/07 crop cycle, up from 3.18 million tonnes in 2005/06.

 

The Secretariat's forecast includes corn destined for animal feed, which the Exchange does not include in its estimate.

 

The USDA sees Argentina's 2006/07 corn production at 19 million tonnes.

 

 

Wheat

 

Argentina's 2006/07 wheat crop is maturing 5-15 days earlier than in normal years due to the hot, dry weather and strong winds in November, the Exchange said.

 

Argentina has harvested 64.7 percent the 2006/07 wheat crop, 15.5 points ahead of the same date last year, the Exchange said.

 

The Exchange estimates new crop production of 13.8 million tonnes.

 

The Agriculture Secretariat forecasts 2006/07 wheat production at 13.7 million tonnes.

 

The USDA is expecting 14.2 million tonnes of wheat from the 2006/07 crop.

 

 

Soy

 

As of Friday, farmers had planted 82.2 percent of the forecast 16.1 million hectares, up 4.7 points from last week, according to the Exchange.

 

Intermittent rainfall this week slowed planting in some areas, the Exchange said.

 

The Agriculture Secretariat forecasts 16 million hectares will be planted with soy in 2006/07.

 

The USDA sees Argentine farmers producing 42 million tonnes of soy in 2006/07.