The Argentina Ministry of Agriculture has sharply trimmed its forecast for 2011-12 wheat production lowering the new crop estimate to 12 million metric tons, compared to 13.5 MMT previously. Wheat harvesting was around 50% complete in mid December, based on a Dow Jones news summary.
Very dry conditions in southern Buenos Aires had a detrimental effect on wheat, the Ministry said. Wheat near Bahia Blanca received only 57% of normal rainfall, August through November, based on official weather reports.
This was a key period in crop development, winter to spring, when southern wheat was tillering and jointing... subscribers continue to full story...