Argentine corn crop estimate raised

Argentine farmers are expected to harvest 48 million tonnes of corn this season, the Buenos Aires Grains Exchange said on Thursday, citing stronger than expected crop yields as the reason for raising its previous estimate of 46 million tonnes. With nearly 31 percent of the 2018/19 corn crop already harvested, the average nationwide yield was 9.65 tonnes per hectare, the exchange said in its weekly crop report. The exchange kept its 2018/19 soybean harvest estimate unchanged at 55 million tonnes. With 59.3 percent of the soy crop harvested so far, the report said the average nationwide yield way 3.74 tonnes per hectare.