Forecast for Argentina's grain production takes an upturn

Argentina's Agriculture Ministry has raised its forecast for 2009/10 soy output to a record 54.0 million tonnes, up from the last monthly estimate of 53.5 million tonnes.

The ministry raised its preliminary 2010/11 wheat area estimate to 4.4 million hectares from an earlier estimate of around 3.52-3.58 million hectares.

In its monthly crop report, the ministry also raised its estimate for the 2009/10 corn crop to 22.7 million tonnes from 21 million tonnes previously.