Breaking News-RTRS-UPDATE 1-Argentina cuts wheat output, soy area forecasts

BUENOS AIRES, Dec 17 (Reuters) - Argentina's Agriculture Secretariat on Wednesday slashed its estimate for 2008/09 wheat production to 9 million tonnes from the 10.1 million tonnes it forecast last month, due mainly to the impact of dry weather.
The outlook for the country's top crop, soybeans, is also slightly less favorable. The government cut its forecast for 2008/09 soybean seeding area to 17.8 million hectares (44 million acres), from 18.0 million hectares last month.