Argentine corn area seen at 2.72 million hectares

Argentine farmers are expected to plant 2.72 million hectares with 2015/16 corn, down 20 percent from the previous crop year, the Buenos Aires Grains Exchange said in a preliminary report released on Wednesday. The main reason for the projected cut in corn sowing was an increase in the cost of seeds and Fertilizers, the report said, warning that changes to the 2015/16 planting area forecast were likely over the weeks ahead. "Farmers' planting intentions reflect a clear tendency toward the downside. But it is still too early to precisely forecast the magnitude of the cut in sowing," the report said.