May 15, 2013

Argentina's 2012/13 soy harvest will be 48.3 million tonnes, and corn harvest is expected to be 24.5 million tonnes, the Rosario Grain Exchange said on May 13 in its monthly crop report.

Soy harvest is slightly lifted from the previous estimate of 48 million tonnes. "The harvest is 70% completed and the latest yield data has allowed us to adjust our crop estimate to 48.3 million tonnes," the report said.

With 19.5 million hectares planted with soy this season, national average yields are coming in at 2.58 tonnes per hectare, it said.

Corn harvest is down from the previous forecast of 25.3 million tonnes, due to lower-than-expected yields. "With 60% of corn harvested, we have adjusted our yield calculations and this has impacted the estimated crop size," it said.

"According to our latest measurements, average yields are 7.05 tonnes per hectare, lower than the 7.17 tonnes per hectare that was estimated in last month's report," it continued.

Argentina is the world's no.3 exporter of soy and corn. Demand for both is strong this season due to a harsh 2012 drought in the US that shrivelled yields in the world's no. 1 corn and soy producing nation.