This year’s corn harvest for the
2018-2019 season is expected to
come in at a record 57 million
tonnes, the Secretary of Agribusiness’ office projected on Friday.
Soybean production will total
around 55.6 million tonnes, it
added. The anticipated figures
would push production up 31 percent compared to last year, when
the harvest was hit by Argentina’s
worst drought in half a century.
The last time the corn crop surpassed the soy crop in Argentina
was back in 1998, when 19.3 million tonnes of maize were harvested.
Analysts say corn production
has picked up as its price per ton
has risen. Last month, a ton of
corn came brought in US$160,
compared to an average of
US$151 over the past five years.
Corn crops are subject to a levy
of roughly 10 percent, introduced
by the government in 2018 following the severe devaluation of
the peso. Excluding supplies and
costs, the gross margin for corn
crops is around US$400 per hectare, Noticias Argentinas reported Friday. Prices vary according
to which region of the country.
SOY HARVEST DELIVERS
After last year’s devastating
drought, soybean yields in
Argentina’s famous pampas
agricultural belt registered an
average of 3.36 metric tons per
hectare this season, analysts
from the Buenos Aires Grain Exchange led by Esteban Copati
announced in their weekly report
this week. That is a full six percent more than the previous
According to analysts, producers and plants benefitted from
good levels of humidity during
the season. Last year’s harvest
delivered only 35.1 million tons,
with around 55.6 million tonnes
produced this year.
The sowing of wheat in damp
fields was also delayed, though
there was a good climate in July
when the plants traditionally begin to grow, which would deliver
a better crop than expected.
The stock market currently foresees a record of 20.6 million
tons of wheat.