Argentina field moisture has been completely restored following a serious winter drought, suggesting corn plantings may increase this season. If El Nino takes hold, the yield outlook would be considerably brighter than last year, when severe drought decimated the crop.
The USDA anticipates a 33% increase in Argentina corn production this season, 28 million metric tons compared to 21 MMT in last season’s drought-ravaged harvest. This would allow for 18.5 million metric tons of corn for export, 6.7 MMT higher than 2011-12.
The USDA predicts record high corn exports in the 2012-13 marketing year... subcribers continue to full story