The Buenos Aires Grain Exchange kept its Argentine soybean and corn crop estimates at 25 MMT and 36 MMT, respectively. But the exchange warned it could make further cuts to production if yields continue to come in even lower than expected.
The exchange rated the Argentine soybean crop 3% good/excellent (down one percentage point from the previous week), 32% fair (up two points) and 65% poor/very poor (down one point). It rated the country’s corn crop 6% good/excellent (down one point), 41% fair (unchanged) and 53% poor/very poor (up one point).
As we reported in “First Thing Today,” the Rosario Grain Exchange cut its Argentine soybean and corn crop estimates to 23 MMT and 32 MMT, respectively.
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