South American crop consultant Dr. Michael Cordonnier left his Brazilian soybean estimate unchanged this week, but says it still may be lowered depending on final harvest results in southern and northeastern growing regions. He also left his Brazilian corn, as well as his Argentine corn and soybean estimates unchanged this week.
|
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 |
45.5
|
47.0
|
44.0
|
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 |
119.4
|
124.0
|
115.8
|
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
|
17.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
79.8
|
86.0
|
73.6
|
82.0
|
Juli says: In this morning's S&D Report, USDA lowered its Brazilian bean crop estimate to 66.0 MMT, lowered Argentine beans to 45 MMT, left its Brazilian corn crop peg at 62 MMT and lowered its Argentine corn crop estiamte to 21.5 MMT.
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