South American crop consultant Dr. Michael Cordonnier has lowered his estimate of Argentina’s corn area as well as its yield due to wet weather, resulting in a 3.5-MMT cut to his crop estimate. The Brazilian corn estimate was left unchanged but Dr. Cordonnier says there is a greater downside risk for the corn crop than upside potential.
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 | 56.0 | 58.0 | 52.0 | 41.0 |
| Paraguay | 9.0 | 9.5 | 8.0 | 4.0 |
| Bolivia | 2.2 | 2.5 | 1.8 | 2.2 |
| Uruguay | 2.0 | 2.3 | 1.7 | 1.6 |
| Total | 149.2 | 155.3 | 138.5 | 115.3 |
Dr. Cordonnier 2012-13 | Est. | Maximum | Minimum | 2011-12 |
in million metric tons | ||||
| Brazil | 72.0 | 73.0 | 65.0 | 72.5 |
| Argentina | 22.5 | 26.0 | 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 | 97.6 | 102.7 | 87.6 | 96.5 |
