January 16, 2013

After President Cristina Fernandez forecast a crop of 24.5 million tonnes last year, Argentina's 2012-13 corn harvest is expected to increase to 28-30 million tonnes.

"There is a lot of corn, and in exceptional condition," Deputy Agriculture Secretary Oscar Solis said on Tuesday (Jan 8). "The range will be roughly between 28 and 30 million tonnes."

The projection puts the ministry in line with the USDA, which on Friday (Jan 11) upped its 2012-13 Argentine corn crop estimate to 28 million tonnes from 27.5 million tonnes.

The season started with heavy August-November storms that flooded wide swathes of the Pampas grains belt, raising fear that many areas would not get planted. It was during this period that President Fernandez forecast 24.5 million tonnes, which would itself have been a record harvest.

The rains have since given way to extended stretches of sunny weather, allowing farmers to get most areas planted and setting the stage for healthy yields. The South American grains powerhouse is the world's No. three corn exporter after the US and Brazil.

Argentina's biggest ever corns take was 23.8 million tonnes collected in the 2010-11 season, according to the government.