Crop consultant Dr. Michael Cordonnier has lowered his estimates of the Argentine corn and soybean crops due to unfavorable weather. He has adopted a neutral to negative bias toward the crops as hot and dry weather has returned to the country. Meanwhile, he left his Brazilian crop pegs unchanged from last week, but says he has a neutral to negative bias toward the bean crop due to some pockets of dryness developing in central Brazil.
Dr. Cordonnier 2013-14 Soybean Estimates | Est. | Maximum | Minimum | 2012-13 |
in million metric tons | ||||
| Brazil | 90.0 | 92.0 | 85.0 | 82.0 |
| Argentina | 54.5 | 57.0 | 50.0 | 49.5 |
| Paraguay | 9.5 | 10.0 | 9.0 | 9.3 |
| Bolivia | 2.5 | 2.7 | 2.2 | 2.6 |
| Uruguay | 3.2 | 3.5 | 2.8 | 3.0 |
| Total | 159.7 | 165.2 | 149.0 | 146.4 |
Dr. Cordonnier 2013-14 | Est. | Maximum | Minimum | 2012-13 |
in million metric tons | ||||
| Brazil | 68.5 | 73.0 | 66.0 | 81.0 |
| Argentina | 22.5 | 25.0 | 20.0 | 26.5 |
| Paraguay | 2.5 | 2.8 | 2.1 | 3.0 |
| Bolivia | 0.7 | 0.8 | 0.6 | 0.7 |
| Uruguay | 0.4 | 0.5 | 0.3 | 0.4 |
| Total | 94.6 | 102.1 | 89.0 | 111.6 |
