July 31, 2008

 

Argentina June 30 soy stocks down 30 percent on-year

   
  

Argentina's oilseed industry held soy stocks totalling 11,207,785 tonnes as of June 30, down 30 percent from the 15,914,054 held at the same date in 2007, according to the agriculture trade office known as ONCCA.

 

Argentina is the world's leading soyoil and soymeal exporter. It follows the US and Brazil in soy exports.

   

Meanwhile, oilseed crushers held 1,787,626 tonnes of sunseed stocks as of June 30, up from the 798,087 tonnes held on the same date a year earlier, according to ONCCA.

 

Argentina is the world's leading sunseed oil exporter.

 

On the other hand, Argentina's wheat stocks totalled 4,513,579 tonnes as of June 30, up 46.5 percent from the 3,080,046 tonnes held at the same date in 2007.

 

Millers had processed 50 percent of the 6.1 million tonnes needed for the domestic market as of June 30, ONCCA said.

 

New wheat export commitments have been blocked since late last year. However, in June the government announced that an additional 1 million tonnes would be authorized for export.

 

Argentina's corn stocks totalled 5,022,643 tonnes as of June 30, up 3 percent from 4,876,269 tonnes held on the same date a year earlier, according to ONCCA.

 

Yearly domestic consumption needs are pegged at 6 million tonnes by ONCCA.
   

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