BUENOS AIRES: Argentina's corn harvest for the 2019/20 season could surpass the record production of 56 million tonnes for the current 2018/19 season amid a global price spike, the cabinet chief of Argentina's agriculture secretariat told Reuters on Tuesday.
"Most likely, the next season [of corn] will be like this or more," said Santiago del Solar on the sidelines of the annual chamber of congress for the Maizar grains association.
"The futures markets are showing interesting prices... and when there is a good price in the moment before sowing, the producers start buying inputs," Del Solar said.
Chicago corn futures rose almost 2pc on Tuesday, climbing to a near two-year high as forecasts of heavy rain across key US growing regions threatened further delays to plantings.
Grains production for Argentina's current season is estimated to reach a record high due to the expansion of the planting area and favorable weather conditions.
"The sale of seed comes very close to what it was this time last year," said Alberto Morelli, president of Maizar, who estimated the 2018/19 production would be a record of at least 50 million tonnes.
Argentina is the world's third largest exporter of corn.
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