March 14, 2012

Argentina sells five million tonnes soy, seven million tonnes corn

From its new crop ahead of the 2012 harvest that will gather momentum next month, Argentina has sold around five million tonnes of soy and seven million tonnes of corn, a senior Buenos Aires-based trading executive said Tuesday (Mar 13).

"Even though the crops have been hit by dry weather, there is strong demand globally and large sales from Argentina have been made," Freddy Pranteda, Cosur SA's director for grains and oilseeds, told Dow Jones Newswires ahead of an international grains conference here.

At least 4.5 million tonnes of new-crop Argentinean soy have been sold to China alone, Pranteda said.

 
Most soy sales are for April-June shipment, while corn shipments are for March-May, with a small volume for June shipment, he said.