Argentina: Grain and Feed Update
Post forecasts wheat exports in MY2018/19 at 13.6 million tons, 600,000 tons lower than USDA, leading to greater stocks at 760,000 tons. Post estimates barley production and exports for MY2018/19 and MY2017/18 slightly lower than USDA’s numbers. Argentine corn production for MY2018/19 is increased at 41.5 million tons, 500,000 tons higher than USDA, primarily due to an increase in harvested area. Post estimates significantly higher corn consumption than what USDA‘s official estimate for MY2017/18 and MY2018/19. There are no significant changes in tables for sorghum or rice.
