Thursday, April 9, 2009

Breaking News-RTRS-Lanworth cuts Brazil soy view, raises Argentina

BUENOS AIRES, April 7 (Reuters) - Chicago-based data firm Lanworth trimmed its estimate for Brazil's 2008/09 soy crop to 56.36 million tonnes on Tuesday, but slightly raised its outlook for Argentine output to 43.2 million tonnes.
The Argentine forecast is significantly higher than the latest weekly estimate by the Buenos Aires Grains Exchange, which sees production falling to 39.4 million tonnes due to drought. Last season, Argentina produced 46.2 million tonnes.