Argentina cut its 2012/13 soyabean crop forecast to 50.6 million tonnes from its April forecast of 51.3 million tonnes, citing the impact of dry weather in northern growing regions, the agriculture ministry said on Thursday. Argentina is the world's No 3 supplier of soyabeans and corn and the top global exporter of soyaoil and soyameal. The government said 85 percent of the soyabean area has been harvested to date.
The ministry held its outlook for 2012/13 corn production at 25.7 million tonnes. Regarding the new 2013/14 wheat crop, the government said in its first area estimate that farmers would likely seed about 4 million hectares. This compares with 3.16 million hectares in the 2012/13 crop year.
"Good moisture conditions in various growing areas, the need for crop rotation and the mediocre performance of barley during the prior season indicate farmers plan to seed about 4 million hectares (of wheat)," the agriculture ministry report stated. The US Department of Agriculture forecasts Argentina's 2013/14 wheat production at 13 million tonnes, up from 11 million last season.