The Argentine government estimated its 2018-19 corn harvest at 55 million tonnes on Wednesday, and predicted the 2018-19 soy harvest at 55.9 million tonnes. The numbers include the corn amount estimated for use by farmers on their land for feed and other purposes. The estimates are the first made by the Argentine government for the harvests of both crops in the 2018/19 season.
The estimates are higher than the previous season's harvests of soybeans and corn which were 37.78 million tonnes and 43.46 million tonnes, respectively, according to the government, after a historic drought damaged crops significantly. The Buenos Aires grains exchange said on Wednesday it maintained its 2018/19 estimates for soy and corn at 55 million tonnes and 46 million tonnes, respectively.