BUENOS AIRES (Dow Jones)--Argentina's 2007-08 soybean production will total
just 40 million to 42 million metric tons, a 9% to 12% drop on the year,
according to the Argentine Association of Agricultural Research Consortiums, or
CREA.

  The CREA report adds to the chorus of private forecasts predicting a sharp
drop in production due to a brutal drought early this year and late in 2008.

  The drought also cut corn, wheat and sunflower seed production in half from
last season, according to CREA.

  In addition to the drought, the drop is due to "decreased planted area due to
high costs, decreased use of technology, uncertainty due to export
restrictions, manipulation of markets and other intervention by the
government," CREA said in a statement posted on its website.


  Estimates for Argentina's 2008-09 crop production in millions of hectares
(HA) or millions of metric tons (MT).

                     Wheat    Soy       Corn        Sunseed
   CREA              --       40-42MT   --          --
   B.A. Cereals Exch 8.7MT    42.5MT    13.8MT      2.9MT
   Agriculture Sec't 8.3MT    17HA      12.5-13.8MT 2.4MT
   USDA              8.4MT    43MT      13.5MT      3MT
   Rosario Exch      --       41.7MT    14MT        --
   Ricardo Baccarin* --       42MT      --          --
   Adrian Seltzer*   --       41-43.5MT --          --
   Pablo Adreani*    --       37MT      --          --

   *Ricarco Baccarin is vice president of Panagricola S.A., Adrian Seltzer is
an analyst at Granar S.A. and Pablo Adreani is an analyst at AgriPac
Consultores.

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

                     Wheat     Soy      Corn      Sunseed
 2007-08             16        46.2     20.5      4.65
 2006-07             14.6      47.5     21.8      3.5
 2005-06             12.6      40.5     14.5      3.8
 2004-05             16        38.3     20.5      3.7
 2003-04             14.6      31.6     15        3.1
 2002-03             12.3      35       14.7      3.4