South American crop consultant Dr. Michael Cordonnier has lowered his estimate of Argentina’s soybean crop by another 1 MMT after lowering it by that amount last week, to 51 MMT due to a continuation of hot and dry weather. He also lowered his estimate of the Paraguay crop by 250,000 MT to 8.75 MMT to trim total South American soybean production to 144.95 MMT, which if realized would still be 25.7% higher than last year.
Dr. Cordonnier 2012-13 Soybean Estimates | Est. | Maximum | Minimum | 2011-12 |
in million metric tons | ||||
| Brazil | 81.0 | 84.0 | 78.0 | 66.5 |
| Argentina | 51.0 | 54.0 | 47.0 | 41.0 |
| Paraguay | 8.75 | 9.0 | 8.0 | 4.0 |
| Bolivia | 2.2 | 2.5 | 1.8 | 2.2 |
| Uruguay | 2.0 | 2.3 | 1.7 | 1.6 |
| Total | 144.95 | 151.8 | 136.5 | 115.3 |
Dr. Cordonnier 2012-13 | Est. | Maximum | Minimum | 2011-12 |
in million metric tons | ||||
| Brazil | 70.0 | 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 | 95.6 | 102.7 | 87.6 | 96.5 |
