March 9, 2004



Argentina' 2003-04 Corn 11.6% Collected

Argentina's farmers had collected 11.6% of the 2003-04 corn harvest by Saturday, the Buenos Aires Cereals Exchange reported Monday.
The pace of production is up 3 percentage points from a week ago but down 7 points from 18.6% a year ago at this time.
So far, farmers have harvested 1,579,672 metric tons.
Collectable area stands at 2.216 million hectares. Some 256,845 hectares have been collected thus far.
The average yield last week was 6.15 tons per hectare, which is down from 7.2 tons a year ago at this time.
"Although it is premature to extrapolate future results given that only a small percentage has been harvested, we can assume that the average national yield during this campaign will decline 10% from the previous year," the exchange said. "Because of the low yields, it is probable that some areas initially destined for the production of grains will be turned back into pasture (for cattle grazing) or collected and stored in silos as fodder."
Based on the average yield so far, the exchange has estimated total production of 12.8 million tons.
This would be a decline of about 3 million tons from the previous year, according to exchange data.

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