Argentine 2011-12 soya planting advances quickly

The planting of Argentine 2011/12 soya advanced quickly over the last week thanks to ample rains, although several pockets of excessive moisture caused concerns among growers, the Agriculture Ministry said in its weekly crop report on Friday.
As of Thursday, which ended the week covered by the report, farmers had planted 66 percent of the 19 million hectares planned for soya this season, advancing by 10 percentage points during the seven-day period, 6 points faster than the last year's tempo. Government officials have estimated the 2011/12 soya harvest at between 52 million and 53 million tonnes.
In parts of Cordoba, the country's second-biggest soya producing province, "the planting of later-seeded fields continued at a normal pace, helped by rains over recent days, which allowed for good emergence of seedlings," the report said. The South American country is the world's top supplier of soyaoil and soyameal and its No 3 soyabean exporter.
Argentina has benefited from surging world food demand, but it lags its neighbours in attracting investment as farmers complain about the government's unorthodox and hard-to-predict policies. Corn farmers finished planting in some parts of Buenos Aires province, the country's top grains-producing area, during the week, according to the government report.
As of Thursday, growers had planted 74 percent of the 4.9 million hectares expected to be seeded with 2011/12 corn, an advance of 3 percentage points during the week but 2 points behind the previous season's tempo. Government authorities have estimated the 2011/12 corn harvest at 30 million tonnes, although no official forecast has been released. Argentina is the world's No 2 corn exporter after the United States.
Wheat farmers saw some crops damaged over the last week by hailstorms, the report said. As of Thursday, growers had collected 30 percent of the 4.6 million hectares planted with the 2011/12 crop, an advance of 10 percentage points during the week, marking a tempo 5 points faster than last season's. The Argentine government forecasts 2011/12 wheat production at 12 million tonnes.