South American crop consultant Dr. Michael Cordonnier says the "never ending cycle of bad news" just keeps coming regarding the Argentine soybean crop. He reduced his crop estimate by 2 million metric tons (MMT) to 41.5 MMT and also cut his minimum estimate by 4 MMT to 37 MMT. He says, "I think the crop will end up closer to 37 MMT than 41.5 MMT."
|
Dr. Cordonnier 2011-12 Soybean Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
66.0
|
68.0
|
65.0
|
75.5
|
| Argentina |
41.5
|
44.0
|
37.0
|
49.0
|
| Paraguay |
4.5
|
5.0
|
4.0
|
8.3
|
| Bolivia |
1.7
|
2.0
|
1.4
|
1.6
|
| Uruguay |
1.7
|
2.0
|
1.4
|
1.5
|
| Total |
115.4
|
121.0
|
108.8
|
135.9
|
|
Dr. Cordonnier 2011-12
Corn Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
58.0
|
65.0
|
55.0
|
57.5
|
| Argentina |
20.0
|
22.0
|
17.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
79.8
|
89.0
|
73.6
|
82.0
|
See Comments
