February 10, 2012
Argentina's 2011-12 corn forecast down to 21.3 million tonnes
Due to drought damage in December and January, Argentina's 2011-12 corn production is expected to reach just 21.3 million tonnes, the Buenos Aires Cereals Exchange said in its weekly crop report Thursday (Feb 9).
That's down from 22 million tonnes forecast by the exchange last week. Early in the season, as much as 30 million tonnes had been expected, but the hot, dry summer baked many of the fields.
The USDA also cut its corn forecast for Argentina on Thursday to 22 million tonnes, down from its forecast of 26 million tonnes last month.
