BUENOS AIRES, June 3 (Reuters) – Late-planted corn in Argentina is delivering higher-than-expected yields, with 34.1% of the 2020/21 crop already harvested, the Buenos Aires Grains Trade mentioned on Thursday.
The South American grains powerhouse is the world’s No. Three corn exporter.
“The yields of late-planted corn proceed to exceed preliminary expectations, and are even greater than the productiveness of early planted corn crops in some areas,” the alternate mentioned in its weekly crop report. Nonetheless, the alternate stored its whole 2020/21 harvest forecast unchanged at 46 million tonnes.
The season’s soy crop was 96.6% harvested, the alternate mentioned, leaving its 43.5 million tonne crop estimate unchanged.
The nation is the world’s No. 1 provider of soymeal livestock feed used to fatten poultry and hogs from Europe to Southeast Asia, in addition to a significant worldwide wheat exporter.
Argentine wheat planting is progressing slowly resulting from dryness, significantly in northern areas of the nation the place lack of rain might find yourself lowering plantings of the 2021/22 crop.
Good rainfall in central Argentina will in all probability make up for any losses in northern farm areas, the alternate mentioned.
The alternate stored its wheat planting estimate for the season unchanged at 6.5 million hectares.
(Reporting by Maximilian Heath, writing by Hugh Bronstein Modifying by Sonya Hepinstall)
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