The Argentine Ministry of Agriculture, Livestock and Fisheries released its monthly report on agricultural estimates revising upwards the cultivated area and production data for the 2019/20 corn harvest.
The report indicates that the area implemented was 9.5 million hectares, compared to the 9.1 million estimated in June. Production went from 55.5 million tons to 58.5 million in these most recent data, an increase of 5.4% compared to the previous month and 2.6% compared to the 2018/19 harvest.
As for harvesting crops, work advanced to 94% of the total, growing by two percentage points in the week. Of the shelf areas, all are in the crop maturation phase.
“Low intensity rains were recorded at the end of the week and days of high relative humidity. These parameters do not contribute to reducing grain moisture in sectors where corn lots still contain high moisture values for harvesting. The pace of harvesting work for the last batches continues and is delayed”, says the Ministry.
For market analyst at Germinar Corretora, Roberto Carlos Rafael, this increase of 3 million tons in Argentine production is small and should not cause any type of impact on the Brazilian cereal market.
The market analyst at Céleres Consultoria, Anderson Galvão, also highlights that Brazilian corn remains very cheap due to the exchange rate and that this additional corn from Argentina is welcome on the international market, as the area cultivated in the United States has been reduced compared to initial expectations.
Source: Notícias Agrícolas
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