Argentina Cuts Wheat Forecast

The Argentine government dropped its forecast for the 2008-09 wheat crop by more than a million tons from last month’s estimate; now set at nine million tons, Farm Progress reports. This drastically impacts exports. USDA said Argentina exported more than 10 million tons of wheat from last year’s crop and pegs exports from this year’s crop at 5.8 million tons, about three times the two million tons suggest. ♦