Argentina corn farmers may produce 9.1% more than forecast, bringing their harvest to a record 30 million metric tons of corn in the 2011-2012 season, due to ideal weather conditions, according to the country's corn and sorghum trade group.
The U.S. Department of Agriculture and Argentina's Agriculture Ministry forecasts list outputs of 27.5 million metric tons and 28 million metric tons, respectively. Very good soil moisture and optimum temperatures are contributing to the potential record, said Martin Fraguio, executive director of the trade group Maizar. “The climate is much better than expected,” said Fraguio. “The expectation was for a very aggressive La Niña this year, and it hasn’t been. This is an ideal year."