Buenos Aires Cereal Exchange soybean production estimate for Argentina unchanged
Potentially higher yields early harvested in the central producing region of Argentina would likely compensate most losses generated by torrential rains, according to the Buenos Aires Cereal Exchange. In its new estimate, the Cereal Exchange has not change its soybean production forecast, which was at 56.5 million metric tons as the harvest has advanced to 7.8 percent of the surface with an advance of 1.8 percentage points in a week and a delay of 6.2 points comparing to last year. The best progress is seen in parts of Córdoba, center and north of Santa Fe and to a lesser extent in Entre Ríos. The Buenos Aires Cereal Exchange also points out that the possibility of the appearance of more diseases has lowered with recent lower temperatures.
For corn, the harvest is at 18.2 percent of the area with an advance of 3.2 percentage points weekly. The projection for output of the cereal is at 37 million metric tons. Great potential of yields is seen in most regions.