Argentina: Grain and Feed Update
Wheat production for 2014-15 is forecast at 12.5 million tons, 500,000 tons higher than USDA. The harvest has begun in the north of the country and yields throughout the country are expected to be higher than previously estimated. Post projects 2014-15 exports at 6.5 million tons. Barley production in 2014-15 is reduced at 3.1 million tons, 300,000 tons lower than USDA. This is expected to affect exports which are now forecast at 1.8 million tons, 200,000 tons lower than USDA. Corn production for 2014-15 is down at 22 million tons, 1 million lower than USDA. Projected returns in many cases are negative. Exports are now forecast at 13 million tons, 1 million lower than USDA. Sorghum is also negatively affected by negative returns in most cases. Production is now forecast at 3.7 million tons, 500,000 tons lower than USDA. No significant changes are reported for rice.
