March 4, 2004
 
 
Argentina Soybean Production Estimated At 34 Million MT
 
Argentina will produce only 34 million metric tons of soybeans in 2003-04, according to an estimate released Wednesday by the local consulting group Agropuerto.
 
If this estimate holds, it would represent a 2.3% decline from last year, when Argentina produced a record 34.8 million tons, according to the Agriculture Secretariat.
 
While recent rain has helped to "stop the deterioration of soybeans" in some areas, many farms still suffer from a lack of moisture, Agropuerto said.
 
The lack of rain has been most harmful in southern Buenos Aires.
 
Moreover, "yields of first crop soybeans in Chaco and in northern parts of Santa Fe and Entre Rios are at least 30% below expectations," Agropuerto said. "We can see larges areas of crop with irreversible stress."
 
Agropuerto estimated that Argentina will export 8.8 million tons of 2003- 04 soybeans, compared with 8.935 million the previous year.
 
Crush will total 25 million tons against 25.386 million a year ago, Agropuerto forecast.
 
Agriculture Secretariat sources have said unofficially that 2003-04 soybean production will total between 35 million and 37 million tons.
 
The U.S. Department of Agriculture has put 2003-04 production at 36.5 million tons.
 
CORN
 
Meanwhile, Agropuerto estimated Argentina's 2003-04 corn production at just 11 million tons, compared with Agropuerto's own estimate of 15.7 million in 2002-03.
 
Agropuerto sees Argentina exporting 5.9 million tons of this.
 
The Agriculture Secretariat has forecast 2003-04 corn output at 12.1 million tons, compared with 15.04 million a year earlier.
 
The USDA has put 2003-04 corn output at 12.5 million tons.
 
WHEAT
 
In contrast to corn and soybean producers, wheat farmers will grow more in 2003-04 than they did a year ago, according to Agropuerto.
 
Wheat production will total 14 million tons in 2003-04, compared with 12.3 million a year earlier.
 
Farmers will export around 7.7 million tons of wheat against 5.9 million tons the previous year.
 
Agropuerto's production estimate is inline with that of the Agriculture Secretariat, which sees 2003-04 output at 14 million tons.
 
The USDA has forecast 2003-04 wheat production at 13.5 million tons.
 
SUNSEED
 
Finally, Agropuerto estimated 2003-04 sunseed output at 3.0 million tons, compared with 3.7 million the previous year.
 
Almost all of Argentina's sunseed production is crushed into oil and meal, which is later exported.
 
The Agriculture Secretariat estimates 2003-04 sunseed production at 3.4 million tons and the USDA sees output at 3 million tons.