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USDA FAS reduces Argentina corn estimate

The USDA’s Foreign Ag Service has lowered its outlook for Argentina’s corn crop due to dry weather in some key growing areas.

Argentina is one of the world’s biggest corn exporters, so this could open up some opportunities for U.S. producers.

The FAS sees the crop at 51 million tons with exports of 36 million tons, both 3 million less than the most recent official USDA projections.

The USDA’s updated official estimate is out February 9th.

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