News & Publications
March 22, 2023 |
Argentina’s loss may be U.S. farmer’s gain
For those who have slept since then, back in September USDA was estimating Argentina’s 22-23 corn crop at a record 55.0 million metric tonnes, up 2 MMT from the prior year. Soybean production was pegged at 7 MMT greater, at 51.0 million.
Now all that has changed.
With the release of its March WASDE report, USDA has subsequently lowered Argentine corn 15 million to 40 MMT; likewise, the soybean crop took an 8 MMT hit from the February forecast, down to 33.0.