Argentina 2019-20 corn output forecast unchanged at 50 mil mt: BCR

New Delhi — Argentine is forecast to produce 50 million mt of corn in 2019-20, unchanged from the previous forecast, and down from a record 51.5 million mt harvest last season, trade group Rosario Board of Trade (BCR) said in a report.

Although there are concerns of dry weather conditions hurting the yield of late planted corn in the country, the yield of the first corn crop has been good and could compensate for any loses, the exchange said in the report.

Harvesting of early planted corn in the country is complete in over 7% of the total commercial planted crop of over 6.1 million ha, the report said.

Early corn in Argentina is normally planted during September-October and harvested in April-May, while the second corn crop is usually planted during December-January and harvested in June-July.

Argentina is the third-largest exporter of corn in the world.

Argentina is likely to export 33.5 million mt of corn in 2019-20, which refers to the period March 2020-Februray 2021, from an estimated 37 million mt in 2018-19, according to the US Department of Agriculture.