December 2, 2005
Argentina's October soy stocks up 31 percent year-on-year
Argentina's oilseed industry held soybean stocks totalling 2,360,281 tonnes in October, the Agriculture Secretariat reported Thursday.
That puts stocks up about 31 percent from the same month in 2004, when they totalled 1,806,014 tonnes.
Stocks are up on the year because soybean production and storage capacity are up.
Industry stocks normally rise at the beginning of the soybean harvest and begin to dwindle toward the end. Farmers here harvest soybeans from March through July.
Argentina produced a record 39 million tonnes of soy in 2004-05, compared with 33 million tonnes a year earlier, according to the USDA. The USDA expects Argentina to produce 40.5 million tonnes in 2005-06.
Argentina is the world's leading soyoil and soymeal exporter.
Soyoil stocks were 322,522 tonnes in October, up 8 percent from 298,743 tonnes the previous year.
Stocks of soy pellets amounted to 695,516 tonnes, down 13.7 percent from 805,488 tonnes in October 2004.
Oilseed Industry Stocks
Product 2005 2004
Soybeans
January 956,272 611,269
February 598,010 325,087
March 1,372,792 896,294
April 2,731,966 1,935,264
May 3,654,821 2,838,550
June 3,733,968 3,236,222
July 3,146,824 2,841,445
August 2,787,591 2,480,346
September 2,554,342 2,272,470
October 2,360,281 1,806,014
Soyoil
January 193,564 320,963
February 209,122 168,792
March 132,031 194,184
April 169,415 261,010
May 203,864 248,274
June 227,851 365,511
July 291,965 260,885
August 236,081 239,073
September 309,589 311,551
October 322,522 298,743
Soy Pellets
January 357,084 498,174
February 431,096 375,654
March 466,277 387,141
April 469,123 538,671
May 821,306 539,106
June 588,072 626,678
July 848,366 770,340
August 826,841 741,415
September 888,710 616,023
October 695,516 805,488
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