September 6, 2023

 

Argentine farmer sales of soybeans mixed, corn and wheat on the rise

 

Argentine farmer sales of agricultural commodities displayed a mixed pattern in the week ending August 23, according to data released by the country's agriculture secretariate on August 30, Fastmarkets reported.

 

Sales of the 2023-24 soybean crop experienced an 8.1% decline, amounting to 45,000 tonnes for the week, while sales of the 2022-23 crop saw a significant uptick of 109.6%, reaching 195,000 tonnes.

 

The cumulative sales of the 2023-24 soybean crop have reached 833,200 tonnes, marking a 26.7% decrease compared to the 1.1 million tonnes reported at the same point in the previous year.

 

For the 2022-23 soybean crop, sales of 11.9 million tonnes have been recorded to date, representing a substantial 47.5% decrease from the 22.7 million tonnes sold at the corresponding time last year.

 

Export license applications for the 2023-24 soybean crop amounted to 216,000 tonnes, while the previous year's figures stood at 20,000 tonnes during the same period.

 

Applications for the export of the 2022-23 soybean crop reached 1 million tonnes, slightly lower than the 1.5 million tonnes reported at the same juncture the previous year.

 

In the corn sector, sales of the 2023-24 crop witnessed a considerable surge, rising from 131,000 tonnes to 607,000 tonnes during the week. Additionally, sales of the 2022-23 corn crop increased by 4.8%, reaching 1 million tonnes.

 

On a cumulative basis, 2.3 million tonnes of the 2023-24 corn crop have been sold to date, marking a 44% decline from the 4.1 million tonnes reported at the same time last year.

 

Total sales of the 2022-23 corn crop amounted to 22.9 million tonnes, reflecting a notable decrease of 39.6% compared to the corresponding period in the previous year.

 

Export license applications for the 2023-24 corn crop totaled 430,000 tonnes, while the previous year's applications reached 6.6 million tonnes at the same point.

 

Applications for the export of the 2022-23 corn crop amounted to 19.2 million tonnes, representing a significant drop of 40.7% from the previous year.

 

In the wheat sector, sales of the 2023-24 crop surged by 179%, reaching 165,000 tonnes during the week. Sales of the 2022-23 wheat crop also demonstrated robust growth, rising by 77.7% to 128,000 tonnes.

 

The cumulative sales of the 2023-24 wheat crop have reached 1.3 million tonnes, indicating a substantial decrease compared to the 5.2 million tonnes reported at the same time a year earlier.

 

Cumulative sales of the 2022-23 wheat crop amounted to 11.1 million tonnes, marking a notable decline from the 21.7 million tonnes recorded in the previous year.

 

Notably, there were no export license applications for the 2023-24 wheat crop, in contrast to the 8.8 million tonnes of applications reported at the same point in the previous season.

 

Export applications for the 2022-23 wheat crop stood at 8.8 million tonnes, reflecting a decline of 38.9% from the previous year.

 

-      Fastmarkets