August 31, 2006

 

Argentina's wheat sales up 98.6 percent on-year in June

 

 

Argentina's year-on-year wheat exports rose 98.6 percent in June, the latest Agriculture Secretariat data show.

 

Argentina exported 847,175 tonnes of wheat in June, compared with 426,576 tonnes shipped during the same month a year ago, according to the Secretariat.

 

Sales rose as Argentina shipped more wheat to Brazil, its leading wheat importer.

 

Brazil imported 566,868 tonnes compared with 370,988 tonnes a year ago.

 

South Africa ranked second in June, buying 77,774 tonnes against 30,685 tonnes a year ago.

 

Colombia was third, importing 42,607 tonnes. Colombia did not import any Argentine wheat in June 2005.

 

The US Department of Agriculture has forecast Argentina's 2005/06 wheat exports at 7 million tonnes

 

Farmers are almost finished planting the 2006/07 wheat crop.

 

The USDA expects Argentina's 2006/07 wheat output to total 13.5 million tonnes.

 

CORN EXPORTS

 

In contrast to wheat, May corn exports fell.

 

Argentina exported 629,463 tonnes of corn in June, down 33.8 percent from 950,702 tonnes during the same period a year earlier.

 

Exports dropped partly because production declined to 14 million tonnes from 19.5 million the previous season, according to the USDA.

 

Malaysia was the leading importer, buying 205,282 tonnes compared with 154,089 tonnes a year earlier.

 

South Africa ranked second, importing 121,176 tonnes. South Africa did not import any Argentine corn in June 2005.

 

Peru was third as it imported 95,948 tonnes, up from 106,862 tonnes in June 2005.

 

High taxes and production costs, as well as bad weather, led farmers to plant less corn in 2005/06.

 

Analysts say that because of this--and solid domestic demand for corn--2005/06 exports fell to 10 million tonnes from 14 million a year earlier.