South American crop consultant Dr. Michael Cordonnier says the “never ending cycle of bad news” just keeps coming regarding the Argentine soybean crop. He reduced his crop estimate by 2 million metric tons (MMT) to 41.5 MMT and also cut his minimum estimate by 4 MMT to 37 MMT. He says, “I think the crop will end up closer to 37 MMT than 41.5 MMT.”
Dr. Cordonnier 2011-12 Soybean Estimates | Est. | Maximum | Minimum | 2010-11 |
in million metric tons | ||||
| Brazil | 66.0 | 68.0 | 65.0 | 75.5 |
| Argentina | 41.5 | 44.0 | 37.0 | 49.0 |
| Paraguay | 4.5 | 5.0 | 4.0 | 8.3 |
| Bolivia | 1.7 | 2.0 | 1.4 | 1.6 |
| Uruguay | 1.7 | 2.0 | 1.4 | 1.5 |
| Total | 115.4 | 121.0 | 108.8 | 135.9 |
Dr. Cordonnier 2011-12 | Est. | Maximum | Minimum | 2010-11 |
in million metric tons | ||||
| Brazil | 58.0 | 65.0 | 55.0 | 57.5 |
| Argentina | 20.0 | 22.0 | 17.0 | 22.5 |
| Paraguay | 1.8 | 2.0 | 1.6 | 2.0 |
| Total | 79.8 | 89.0 | 73.6 | 82.0 |
