Crop Estimates

UIUC Weekly Outlook: Forecasts for South American Crops Continue to Drop
According to University of Illinois agricultural economist Darrel Good, “Although in December 2011, the USDA judged total corn production prospects in Argentina and Brazil at 3.54 billion bushels, that forecast was reduced by 120 million bushels in January and by an additional 160 million bushels earlier this month.” All of the reduction has been for the Argentine crop. Similarly, combined soybean production in those two countries was forecast at 4.67 billion bushels in...
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