Private US crop analyst Michael Cordonnier said on Tuesday he lowered his forecast of Argentina's 2010/11 soyabean production for a second straight week, to 48 million tonnes. His previous weekly estimate was for 49 million tonnes. Cordonnier, president of Soyabean and Corn Advisor in Hinsdale, Illinois, attributed the reduction to a potential shortfall in Argentine soya plantings - especially so-called "double-crop" soyabeans that are seeded immediately following the harvest of wheat.
"They may not plant all their double-crop soyabeans because it's getting on the late side, and the forecast does not look promising," he said in an interview, citing overly dry weather. "The planting window closes in Argentina in early January, and that's next week."
Cordonnier left his estimate of 2010/11 corn production in Argentina, the world's No 2 corn exporter, unchanged at 21.5 million tonnes. He estimated that more than half of the Argentine corn crop had pollinated, a key phase for determining yield. However, because of an unusually long planting season, it was hard to say precisely how much of the crop had reached that milestone.
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