Argentina: Grain and Feed Update
Post continues to estimate wheat production for 2014/15 at 12.5 million tons, 500,000 tons higher than USDA, on 4.2 million hectares, 100,000 hectares higher than USDA. This production surplus is projected to be exported, for a total of 6.5 million tons, 500,000 higher than USDA. No significant changes in barley and rice production and trade statistics. Corn production for 2014/15 is now projected at 22.5 million tons, 500,000 tons higher than USDA as a result of very good weather. Corn exports are forecast at 13.5 million tons, 1.5 million more than USDA as a result of higher production volumes than reported by USDA in 2013/14 and 2014/15. Sorghum production for 2014/15 is forecast at 4.0 million tons, 300,000 tons more than USDA as a result of very good weather for summer crops, pushing export forecasts to 1.4 million tons.
