Estimates of corn and soybean production in Brazil and Argentina remain unchanged from private analytics IEG vantage last monthly report. The firm projected Brazil’s 2018/19 soybean crop at 122 million tons and Argentina’s crop at 56.5 million tons.
For corn, IEG left its estimate of Brazil’s 2018/19 crop at 95 million tons and Argentina’s at 43 million tons. The firm left its 2018/19 Argentina wheat production estimate unchanged at 19.25 million tons but trimmed its Brazilian wheat crop estimate to 4.5 million tons, down 1 million from last month.
IEG Vantage, formerly known as Informa Economics IEG, has become a leading statistical reference since the regular US Agriculture Department reports have ceased because of the shutdown of the US federal government following a political dispute between president Donald Trump and Democrats over funds for the wall along the Mexican border.
Likewise the US winter wheat seedings for harvest in 2019 stand at 31.513 million acres IEG Vantage estimated on Friday. That was down from the 32.535 million acres the U.S. Department of Agriculture said farmers planted a year earlier.
The firm’s winter wheat seedings figure includes 22.207 million acres of hard red winter wheat, 5.850 million acres of soft red winter wheat and 3.456 million acres of white winter wheat.
IEG Vantage also estimated U.S. 2018 all-cotton production at 18.472 million bales, below the USDA’s latest estimate of 18.588 million, the notes said.