Argentina: Grain and Feed Update
Post continues to project the 2015/16 wheat crop at 10.2 million metric tons (mmt), slightly below USDA’s official number. Lower exports for 2014/15, are now revised down to 5.0 million tons (adding wheat and flour), and a smaller ending stock in 2015/16 would result in increased exports at 6.0 mmt, 1.0 mmt higher than USDA. Barley exports in 2015/16 are revised down at 1.8 mmt, 200,000 tons lower than USDA. 2015/16 corn area and production remain the big question, but Post maintains its previous forecast at 21.0 mmt, 3.0 mmt lower than USDA. Sorghum PSD remains practically unchanged, except for a 10 percent reduction in USDA’s 2014/15 export to 1.0 mmt. Argentine rice production for 2014/15 is adjusted upwards to 1.49 mmt, but still somewhat lower than USDA.
