Rabobank pegs Brazil, Argentina maize at 131-132 million tonne in 2016-17.

Production of maize in Argentina and Brazil is expected to remain at 131-132 million tonne for the 2016-17 season, up from 96 million tonne last year, as favourable conditions are likely to boost yield prospects. Rabobank has also maintained a neutral stance on maize prices in the US, as short-term weather outlook is seen favourable for global maize crop. CBOT (Chicago Board of Trade) corn prices to remain largely range-bound, trading between $3.5 per bushel and $3.80 per bushel in the short-term, but a bullish bias remains.