South American crop consultant Dr. Michael Cordonnier has raised his Brazilian corn crop estimate by 1 million metric tons (MMT) from last week to 62.0 MMT. He says recent showers have benefited from safrinha corn crop, which came at an opportune time given most of the crop is pollinating.
Dr. Cordonnier left his Brazilian soybean crop estimate unchanged at 65.0 MMT, and doesn't expect the estimate to change very much going forward as harvest is virtually complete. The estimate for Argentine were also left unchanged, wit Dr. Cordonnier pegging the soybean crop at 40.0 MMT and the corn crop at 19.0 MMT.
|
Dr. Cordonnier 2011-12 Soybean Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
65.0
|
66.0
|
64.5
|
75.5
|
| Argentina |
40.0
|
42.0
|
37.0
|
49.0
|
| Paraguay |
4.5
|
5.0
|
3.5
|
8.3
|
| Bolivia |
1.7
|
2.0
|
1.4
|
1.6
|
| Uruguay |
1.7
|
2.0
|
1.4
|
1.5
|
| Total |
112.9
|
117.0
|
107.8
|
135.9
|
|
Dr. Cordonnier 2011-12
Corn Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
62.0
|
65.0
|
59.0
|
57.5
|
| Argentina |
19.0
|
22.0
|
17.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
82.8
|
89.0
|
77.6
|
82.0
|
See Comments