The Buenos Aires Grain Exchange kept its Argentine soybean and corn crop estimates at 25 MMT and 36 MMT, respectively, noting recent rains stabilized crops for now. But early soybean yields are coming in lower than anticipated, which could lead to a further reduction in the production estimate.
The exchange rated the Argentine soybean crop 4% good/excellent (up two points from the previous week), 29% fair (up four points) and 67% poor/very poor (down six points). It rated the country’s corn crop 9% good/excellent (up three points), 38% fair (up two points) and 53% poor/very poor (down five points).
