Argentina’s weekly soybean, corn and wheat sales rise for new crop but fall for old crop

Sales of Argentine soybeans, corn and wheat for the 2023-24 marketing year fell in the week to September 11, according to data released by Argentina’s agriculture secretariat on Wednesday September 18

Soybean sales

Sales of the 2024-25 soybean crop doubled week on week to 70,000 tonnes, while sales of the 2023-24 crop fell sharply by 50.1% week on week to 382,000 tonnes.

Total sales for the 2024-25 crop year came in at 857,700 tonnes, down by 20.3% year on year from 1.07 million tonnes.

Regarding the 2023-24 crop, 27.83 million tonnes have been sold year to date, up by 110% year on year from 13.20 million tonnes of the previous crop.

Export license applications for the 2024-25 crop have not been issued so far, while 280,000 tonnes had been released a year prior for the 2023-24 crop.

Applications to export the 2023-24 crop came in at 4.42 million tonnes, up from 1.21 million tonnes a year earlier.

Corn sales

Farmer sales of the 2024-25 corn crop rose by 88% to 145,000 tonnes in the week to September 11, while sales of the 2023-24 crop were 4.1% lower at 1.18 million tonnes.

On a cumulative basis, 1.20 million tonnes of the 2024-25 crop have been sold year to date, down by 57% year on year from 2.80 million tonnes of the previous crop.

Total sales of the 2023-24 crop reached 32.25 million tonnes, up by 35% year on year.

Export license applications for the 2024-25 crop were at 400,000 tonnes, while 430,000 tonnes had been reported a year prior for the 2023-24 crop.

Export applications for the 2023-24 crop totaled 28.93 million tonnes, up from 20.13 million tonnes a year earlier.

Fastmarkets senior analyst, Anthony Speight, explores critical factors affecting corn supply chain efficiency and market volatility, to answer some of the most pressing questions amongst corn market traders today. Read the report here.

Wheat sales

Farmer sales of the 2024-25 wheat crop surged to 141,000 tonnes in the week to September 11, and sales of the 2023-24 crop were down by 4.3% to 109,000 tonnes.

A total of 2.94 million tonnes of the 2024-25 crop have been sold year to date, up year on year from 1.51 million tonnes of the previous crop.

Cumulative sales of the 2023-24 crop reached 12.37 million tonnes, compared with 11.57 million tonnes during the 2022-23 marketing year.

Export license applications for the 2024-25 crop were zero, unchanged from the previous season.

Export applications for the 2023-24 crop stood at 1.78 million tonnes, down from 8.87 million a year earlier.

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