Argentina's Agriculture Minister has yesterday raised its crop estimate 2015/16 for corn and soybeans due to good yields and lowered the estimate to the local production of wheat. Sustained moisture could limit even further the wheat cultivation.
The 2015/16 in Argentina's corn crop is estimated now to 39.8 million tonnes; These are 1.9 million tons more than in the last estimate. (Previous year: 33.8 million tons). The soybean harvest is estimated now at 58.8 million tonnes (previous month: 58 million tons, last year: 61.4 million tons).
Some winter wheat areas are no longer ordered after the sowing time and again since June was prevented by rains. Now the Ministry assumes 2016/17 from an area of 5.25 million hectares for harvesting (previous month: 5.34 million hectares, previous year: 4.37 million hectares).
Argentina is the world's largest exporter of soybeans and soy products, meal and oil, as well as the United States and Brazil the world's third-largest corn exporter. A large part of the local wheat crop is sold to Brazil.
