December 31, 2003

 

Argentina October Corn Exports Down 17.2% From Year Ago

 

Argentina exported 590,458 tons of corn in October, which is 17.2% less than the 713,237 tons exported during the same month a year ago.

 

Spain bought the biggest portion of Argentine corn in October, accounting for 102,975 tons, compared with only 256 tons the previous year.

 

Saudi Arabia came in second with 99,320 tons against 14,239 the previous year. Chile ranked third with 82,280 tons against 80,681 a year earlier.

 

The Secretariat has estimated Argentina's 2002-03 corn production at 15.5 million tons. However, the Buenos Aires Cereals Exchange has put output at 15.72 million.

 

The U.S. Department of Agriculture sees 2003-04 output at just 13.5 million tons.

 

Argentina was the world's No. 3 corn exporter in 2003, behind China and the U.S. Analysts expect Argentina to takeover the No. 2 position in 2004 as China decreases or entirely ceases its corn exports.

 

WHEAT EXPORTS

 

Argentina exported 371,097 metric tons of wheat in October, 94% more than the 191,197 tons shipped during the same month a year ago, the Agriculture Secretariat reported late Monday.

 

Exports rose as Brazil bought 360,591 tons of Argentine wheat, nearly doubling the 179,805 tons it had purchased during the same month last year.

 

Uruguay ranked second as biggest buyer of Argentine wheat in October, accounting for 10,253 tons compared with 11,392 a year earlier. Israel came in third with 253 tons against none a year ago.

 

Argentina did not export wheat to any other countries in October.

 

The U.S. Department of Agriculture has estimated that Argentina will produce 12.5 million tons of wheat in 2003-04. This would be up from 12.3 million tons in 2002-03.