Argentine Corn Crop 19-21 MMT - Ministry

The Argentine Ag Ministry say that this season's corn crop will total 19-21 MMT, up sharply from last season's production of 12.6 MMT as "excellent" crop conditions lead to high yields.

That is their first estimate of the season, and comfortably outstrips the USDA's 17.2 MMT, and compares favourably with the Buenos Aires Grain Exchange's latest estimate of 19.3 MMT.

Also of interest is their wheat production estimate of 7.5 MMT, very similar to the Buenos Aires Grain Exchange's 7.44 MMT, although the USDA surprisingly raised their production number to 9 MMT last week.

Sunseed production will total 2.2-2.7 MMT say the Ministry, a little higher than the Buenos Aires Grain Exchange's estimate of 2 MMT.

The Ministry didn't estimate soybean production, but said that the planted area for beans was a record 18.2 million hectares.