In this morning's World Supply & Demand Report, USDA raised its estimate of the 2011-12 Argentine corn crop due to an increase in acreage and higher yields due to timely rains.
"Favorable prices, rotational benefits, and the expectation for better trade promotion of corn and wheat are encouraging many Argentine farmers to quickly finish corn seeding to take advantage of the current good soil moisture," states the report.
Additionally, the report states that good soil moisture reserves may ensure better corn establishment and less abandonment this season if timely rains continue. "Despite persistent early warnings of La Niña and the potential that drier conditions may return to the region, beneficial rain during October and early November along with promising weather forecasts for the remainder of November have instilled confidence for good corn germination and establishment," says USDA.
- Southeast Asia Rice: Production Forecast Lower Owing to Widespread Flooding
- China Rice: Record Rice Crop Expected in 2011-12
- China Corn: 2011-12 Corn Area and Production Revised Upward
- Mexico Corn: Adverse Weather Impacting 2011-12 Yield
- European Union Corn: Production Rises Owing to Record Yields in France
- Argentina Soybeans: 2011-12 Production Forecast Higher than Last Year
- Brazil Soybean: Favorable Planting Conditions Increase Yield Prospects for 2011-12
- Kazakhstan Wheat: Production is Estimated to Reach Highest Level in Over 30 Years