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Argentine old and new crop farmer sales rose for soybean, corn and wheat in the week ending November 29, data from the country’s agriculture secretariat showed Wednesday.
Sales of the 2023-24 soybean crop rose by 45.2% to 183,000 tonnes during the week, while sales of the 2022-23 crop surged 108% to 211,000 tonnes.
The new sales took the total amount for the 2023-24 crop to 1.8 million tonnes sold, which is 18.8% lower than the 2.3 million tonnes reported at the same point in 2022.
Regarding the 2022-23 crop, 16.4 million tonnes has been sold to date, down 49.5% from the 32.6 million tonnes sold at the same point last year.
Export license applications for the 2023-24 crop reached 440,000 tonnes, while 371,000 tonnes was reported a year ago.
Applications for export of the 2022-23 crop came to 2 million tonnes, much lower than the 5.5 million tonnes reached at the same point last year.
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Farmer sales of the 2023-24 corn crop were up by 71.8% at 177,000 tonnes, while sales of the 2022-23 crop increased 19.2% to 699,000 tonnes.
On a cumulative basis, 4.1 million tonnes of the 2023-24 crop has been sold to date, down 36.2% from the 6.5 million tonnes seen at the same point last year.
Total sales of the 2022-23 crop reached 27.8 million tonnes, 35.2% lower than at the same point last year.
Export license applications for the 2023-24 crop amounted to 6.3 million tonnes, while 10.2 million tonnes were issued at the same point in 2022.
Export applications for the 2022-23 crop amounted to 23.5 million tonnes, a 28.3% drop from a year earlier.
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Farmer sales of the 2023-24 wheat crop rose 106% to 463,000 tonnes during the week, while sales of the 2022-23 crop were 21% higher at 67,000 tonnes.
A total of 3.4 million tonnes of the 2023-24 crop has been sold so far, down sharply from 6 million tonnes at the same point in 2022.
Cumulative sales of the 2022-23 crop reached 12.7 million tonnes compared with 22.9 million tonnes a year ago.
There were no export license applications for the 2023-24 crop – again in sharp contrast to the 8.8 million tonnes noted at the same point in the previous season.
Export applications for the 2022-23 crop stood at 8.8 million tonnes, down 38.9% from a year earlier.
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