He US Department of Agriculture (USDA) He reduced his Estimates for the production of soybeans and corn in Argentina, after high temperatures and few rains hit crops.
In a monthly report, the USDA anticipated A 50 million tons of Argentina’s corn harvestless than the 51 million I had planned in January.
The organism predicted a Soy production of 49 million metric tons, less than the 52 million it had indicated last month.
The analysts surveyed by Reuters They expected a forecast of 49.5 million tons of corn and 50.49 million tons of soybeans.
Other outgoing points of the USDA Report
The last USDA report left some key data on the demand and production of grains globally. One of the most prominent aspects was the cut in imports of corn and wheat by China: in the case of cereal, the projection fell from 13 to 10 million tonswhile for wheat the adjustment was 10.50 to 8 million.
On the other hand, the cut in the estimation of wheat exports of Russia was more moderate than expected by market analysts, going from 46 to 45.50 million tons.
As for the United States, the agency did not introduce changes in its forecasts on soybeans. The harvest remains in 118.84 million tonswith grinding in 65.59 millionexports in 49.67 million and the final stocks in 10.34 million tonsjust below the 10.40 million projected by the private sector.
For Brazil, the USDA reaffirmed its estimate of 169 million tons soy and 105.50 million In exports. However, he raised his external sales forecast of soybean flour from 21 to 22 million tonswhile the oil were held in 1.55 million.
Globally, the agency cut its soy production projection to 420.76 million tonswhich represents a decline of 4 million tons Regarding January. Meanwhile, world corn production was adjusted to 1.212.47 million tonswith a decrease of 2 million Faced with the previous estimate.
Source: Ambito
