November 22, 2004

Argentina's Corn, Soy, Wheat Evolving Well

Argentina's 2004-05 corn, soybean and wheat crops are evolving well thanks to a healthy dose of rain, a government weather expert said Friday.

"In general, rain has been quite beneficial for the wheat crop," Cesar Rebella, director of the National Institute of Climate and Water, told Dow Jones Newswires. "We're expecting very good conditions in southern Buenos Aires, where a big portion of the crop has been planted."

A lack of rain had damaged the wheat crop in northern provinces such as Chaco, Santiago del Estero and Tucuman, but recent precipitation has improved the situation in these areas.

"This area has recovered from the lack of water in August and September," Rebella said.

Rebella said the corn and soybean crops are also evolving well.

"Planting of corn is being completed normally thanks to rain in October and November," he said. "And first-crop soybeans have advanced a good deal and are evolving satisfactorily. Expectations are very good."

As of Nov. 12, farmers had planted 37% of the 2004-05 soybean crop, according to the Agriculture Secretariat. By that date, farmers had also planted 73% of the 2004-05 corn crop.

Though the Secretariat acknowledges that farmers have started collecting the 2004-05 wheat crop, it has not released detailed data.

In contrast, the Buenos Aires Cereals Exchange said this week that as of Nov. 13, about 7.7% of the 2004-05 wheat crop had been harvested.