The general condition of the corn in Argentina is rated 57% poor to very poor and the soil moisture is rated 81% short to very short (see tables below). Some of the best corn condition is in northern Argentina, while some of the lowest rated corn is in north-central Santa Fe and also in Buenos Aires and La Pampa.
The early-planted corn is 58% filling grain and 21% mature, while the late-planted corn is approximately 50% pollinated. The wettest soils are in northern Argentina while the driest soils are generally in southern Argentina.
The corn crop in Argentina is 1% harvested according to the Buenos Aires Grain Exchange. Early corn yields are coming in below expectations due to damage resulting from hot and dry conditions during December when the early-planted corn was pollinating. Much of the late-planted corn is also now pollinating under adverse conditions and expectations for the later planted corn are declining.
With new mature area entering full production and expectations for above trend yields, the 2017/18 Indonesian palm oil production forecast is maintained at 38.5 MMT, a 5.5 percent increase from 2016/17, stated in USDA report.
Egypt's General Authority for Supply Commodities (GASC) was back in the market on Tuesday/Wednesday, looking to buy an unspecified amount of wheat third time in a month for delivery from March 22-April 1.