South American crop consultant Dr. Michael Cordonnier is leaving his estimates of the corn and soybean crops unchanged in the region this week, but says there is still more downside risk to the crops than upside potential.
He expects Brazil to plant a record area of safrinha corn acreage. If the weather cooperates, there is a very good probability of a record safrinha corn crop this year, he says
|
Dr. Cordonnier 2011-12 Soybean Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
70.0
|
72.0
|
68.0
|
75.5
|
| Argentina |
49.0
|
52.0
|
45.0
|
49.0
|
| Paraguay |
6.0
|
7.0
|
5.5
|
8.3
|
| Bolivia |
1.7
|
2.0
|
1.4
|
1.6
|
| Uruguay |
1.7
|
2.0
|
1.4
|
1.5
|
| Total |
128.4
|
135.0
|
121.3
|
135.9
|
|
Dr. Cordonnier 2011-12
Corn Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
58.0
|
62.0
|
55.0
|
57.5
|
| Argentina |
20.0
|
22.0
|
15.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
79.8
|
86.0
|
71.6
|
82.0
|
See Comments
