DJ Argentina Soy Harvest Starting, But Wetness Delaying Progress

BUENOS AIRES (Dow Jones)--Argentina's farmers have started to harvest the
bumper 2009-10 soy crop, although wet conditions in many areas are slowing
things down, the Agriculture Ministry said in its weekly crop report Friday.

While conditions are mixed in some fields that received too much rainfall,
the crop is generally in good shape.

In the Pergamino district of Buenos Aires Province, yields are in line with
expectations. "Prospects are good as the crop passed all stages with optimal
temperatures and humidity," the ministry said.

The ministry hasn't forecast soy production yet, but the Buenos Aires Cereals
Exchange is predicting a record 53.5 million metric tons of soybeans this
season. The exchange raised its forecast by 1.5 million tons this week due to
the good conditions.

Corn planting is progressing, with 11% of the crop harvested to date,
according to the Agriculture Ministry. Conditions are good in most areas.

The ministry pegs output at between 19 million and 21 million tons, up
sharply from 12.6 million tons last season.

Farmers have harvested 40% of the sunflower seed crop to date, with
production forecast by the ministry at 2.2 million to 2.7 million tons.



Estimates for Argentina's 2009-10 crop production in millions of hectares
(HA) or millions of metric tons (MT).


                  Wheat    Soy       Corn      Sunseed
Ag Ministry       7.5MT    18.2HA    19-21MT   2.2-2.7MT
B.A. Cereals Exch 7.44MT   53.5MT    20.2MT    2.1MT
USDA              9MT      53MT      21MT      2.3MT
Rosario Exchange   --      52.5MT    19.7MT    --
Agritrend         8MT      53MT      19.5MT    2.2MT
Granar             --      53.4MT    19.6MT    --
Lartirigoyen       --      55.3MT    19.2MT    1.95MT
Panagricola        --      51MT      20MT      2.1MT


Argentina's historical production estimates in millions of metric tons,
according to the USDA:


                  Wheat     Soy      Corn      Sunseed
2008-09             8.4       32       12.6      2.9
2007-08             18        46.2     22        4.65
2006-07             16.1      48.8     22.5      --
2005-06             14.6      40.5     15.8      --



-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738;
shane.romig@dowjones.com