Attache Lowers Argentine Corn and Soybean Crop Pegs

February 7, 2014 03:23 AM



The U.S. ag attache in Argentina has reduced its estimate of the country's 2013-14 soybean crop at 54 MMT, which compares to USDA current estimate of 54.5 MMT, due to poor conditions for second-crop soybeans.

The attache says weather during December and January featured extreme high temperatures and drought throughout much of the country, but notes heat hasn’t been as damaging as in past years since it has been broken up by showers at different times, in different areas. "Where the rain hasn't reached is the western and southern parts of the Buenos Aires province, where the majority of second crop soybeans, planted after wheat and barley, is harvested," says the attache.

The attache says many contacts indicate that whatever second-crop soybeans were planted in Buenos Aires will not recover and some area was never planted to begin with.

The attache also lowered its Argentine corn production estimate to 23.8 MMT, which is 1.2 MMT below USDA's current estimate. It also notes weather as lowering yield potential, and says several contracts believe actual production could be lower still. "An unusual long period (11 days) of very high temperatures combined with scarce soil humidity in mid-December negatively affected almost all early planted corn which was going through the flowering stage," says the attache. "A second period of high temperatures was suffered in mid-January."

"Generally speaking corn is in good condition with the exception in the southern part of Cordoba, La Pampa and West and Central-South part of Buenos Aires province," says the attache.

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