Argentina's 2018-19 corn harvest is estimated at 46 million tonnes, the Buenos Aires Grains Exchange said in a report on Thursday, citing higher-than-expected yields as its reason for raising its forecast from a previous 45 million tonnes. Good weather on Argentina's Pampas farm belt has benefited both corn and soy crops in the 2018-19 crop year.
"Corn harvesting is progressing at a good pace, with yields outperforming original expectation in early-planted areas," the exchange said in its weekly crop report. It said 12.2 percent of the expected 2018-19 crop had been harvested.
Only 1.6 percent of this year's soybean harvest had been brought in as of Wednesday, the report said, lagging last year's pace of soy harvesting by 7.2 percentage points.
"Yields in harvested areas support our forecast of an overall soy crop of 53 million tonnes," the report said.
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