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Improved weather forecasts are expected to lead to recoveries in grain production in Argentina. However, continued dry conditions are projected to limit planting of wheat and rice.
Post estimates MY 2022/2023 soybean production at 21.25 million metric tons (MMT), 3.75 MMT below the official USDA estimate on lower than expected yields.
Argentina’s raisin production is forecast stable at 44,000 metric tons (MT) in CY 2020.
Argentina’s fuel ethanol production and consumption remains stable with 2019 forecast at 1.1 billion liters with no trade expected and the E12 mandate blend near 11.5 percent.
For marketing year (MY) 2019/20, Post wheat production is forecast higher than USDA at a record 20.8 million tons on larger planted area than USDA lifting exports to a record 14.3 million tons.
Argentina’s fuel ethanol production and consumption remains stable with 2019 forecast at 1.1 billion liters with no trade expected and the E12 mandate blend near 11.5 percent.