South American crop consultant Dr. Michael Cordonnier has once again lowered his corn crop estimate for Argentina, citing irreversible damage due to dry conditions and lower harvested acreage expectations.
Cordonnier has also sliced his soybean production estimates for Brazil, Argentina and Paraguay by 1 million metric tons each due to disappointing weekend rains in Argentina and southern Brazil and overly wet conditions in Mato Grasso, Brazil. He notes that the condition of the bean crop in Argentina "depends on the luck of the rainfall," as fields that have received rains are in good condition while those that have missed out likely to produce disappointing yields.
|
Dr. Cordonnier 2011-12 Soybean Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
70.0
|
73.0
|
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
|
136.0
|
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
|
23.0
|
15.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
79.8
|
87.0
|
71.6
|
82.0
|
See Comments
