October 10, 2006

 

Argentina's July wheat sales up 46.2 percent on-year

 

 

Argentina's year-on-year wheat exports rose 46.2 percent in July, the latest Agriculture Secretariat data show.

 

Argentina exported 735,054 tonnes of wheat in July, compared to 502,931 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 496,584 tonnes, compared to 313,686 tonnes a year ago.

 

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

 

The USDA expects Argentina's 2006/07 wheat output to total 13.25 million tonnes.

 

 

Corn exports

 

Argentina exported 721,905 tonnes of corn in July, down 46.8 percent from 1,357,612 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 238,265 compared with 123,979 tonnes a year earlier.

 

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.