Consultant Lowers Argentine Soybean Crop Estimate

December 18, 2012 09:00 AM
 

South American crop consultant Dr. Michael Cordonnier has lowered his Argentine soybean crop estimate by 1 MMT from last week to 55 MMT and says the estimate "may continue to move lower in the coming weeks" due to planting delays. He says around 7 million hectares of intended soybean acres remain to be planted and his biggest concern is a significant portion of the full-season beans will be planted at the same time as the double-crop acres.

Meanwhile, Dr. Cordonnier left his estimate of Brazil's soybean crop unchanged at 80 MMT, but says he is "a little more optimistic toward the crop this week after after the rains that fell in southern Brazil."

Dr. Cordonnier 2012-13 Soybean Estimates

Est.
Maximum
Minimum
2011-12

in million metric tons

Brazil
80.0
83.0
75.0
66.5
Argentina
55.0
57.0
52.0
41.0
Paraguay
9.0
9.3
8.3
4.0
Bolivia
2.2
2.5
1.8
2.2
Uruguay
2.0
2.3
1.7
1.6
Total
148.2
154.1
138.5
115.3

Dr. Cordonnier 2012-13
Corn Estimates

Est.
Maximum
Minimum
2011-12

in million metric tons

Brazil
70.0
73.0
65.0
72.5
Argentina
22.5
25.0
20.0
21.0
Paraguay
2.0
2.4
1.7
1.9
Bolivia
0.7
0.8
0.6
0.7
Uruguay
0.4
0.5
0.3
0.4
Total
95.6
101.7
87.6
96.5

 


 

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