Argentina December wheat and corn exports post unexpected gain

Argentina's corn and wheat exports got a surprising boost in December after months of lacklustre shipments.

 

The country exported 662,970 tonnes of corn in December, up from 248,081 tonnes shipped a year earlier, according to the latest data from the animal health and sanitation service, Senasa.

 

October's corn shipments were valued at US$114 million compared to US$51 million a year earlier. Corn exports during all of 2009 totalled 7,976,391 tonnes, down from 15,424,327 tonnes a year earlier.

 

Last season's corn crop was hit hard by drought, sharply cutting yields. Corn production during the 2008-09 season totalled 12.6 million tonnes, down from 22 million tonnes a year earlier.

 

Iran, Colombia, Algeria, Egypt and Malaysia were the leading destinations for Argentine corn exports last year.

 

Wheat exports in December also rebounded from a month earlier as the first new-crop grain started making it to market.

 

Argentina exported 545,153 tonnes of wheat in December, down from 716,829 tonnes shipped a year earlier, according to Senasa. December wheat exports were valued at US$119 million, down from US$155 million a year ago.

 

Wheat exports during 2009 totalled 5,169,060 tonnes, down from 8,907,418 tonnes a year earlier.

 

The wheat crop also suffered from drought last season, with production falling to just 8.4 million tonnes, from 18 million tonnes a year earlier.

 

As usual, Brazil was the leading market for Argentine wheat exports last year, buying 3,112,118 tonnes. Iran and Peru followed with 367,286 and 339,706 tonnes, respectively.