South American Crop Size

I am watching private trade estimates for the crop size in South America. One of my most respected sources (Dr Michael Cordonnier) has reduced the corn crop in Argentina by 1 Million Metric Tons (mmt) again this week. Soybean production in Argentina was taken 1 mmt lower. For Brazil, the corn and soybean crop is unchanged from last week. The total corn crop in South America is now down 6 mmt (about 240 million bushels) from the last USDA report. The total soybean crop is down 3 mmt (110 million bushels) from the last USDA report.

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