Macroeconomy/Finance

BAGE raises Argentina 2019-20 corn output forecast to 50mn mt

Buenos Aires Grain Exchange raised its forecast for Argentina’s corn production to 50 million mt in 2019-20, up 1 million mt from the previous estimate, and not far behind the record 50.6 million mt harvest during the last season. Argentina, the third largest exporter of corn in the world, is likely to export 33.5 million mt of corn in 2019-20, compared to an estimated 36 million mt in 2018-19, according to the US Department of Agriculture. Argentine exporters have declared sales of 19.4 million mt of corn so far for the marketing year 2019-20, according to the government data.

Source: S&P Global