Argentine farmer sales of new crop soybeans, corn and wheat were higher, while soybean sales for the last marketing year decreased in the week ending May 17, data from the country’s agriculture ministry showed Wednesday.
Sales of the new soybean crop increased by 23.9% to 876,000 tonnes during the week while sales of the 2021-22 crop declined by 3,3% to 58,000 tonnes.
Total sales of the 2022-23 crop reached 9 million tonnes, which is 43.2% lower than the 15.9 million tonnes in total sales reported at the same point last year.
Export license applications for the 2022-23 crop amounted to 896,000 tonnes, up from 413,000 a year ago.
Applications for export of the 2021-22 crop came to 5.6 million tonnes, higher than 5.2 million tonnes at the same point of last year.
Corn sales
Farmer sales of the 2022-23 corn crop rose by 8.7% to 570,000 tonnes during the week while sales of the 2021-22 crop were also up by 1.0% at 397,000 tonnes.
On a cumulative basis, 11.8 million tonnes of the 2022-23 crop have been sold to date, down by 52.2% from the 24.9 million tonnes at the same point of last year.
Total sales of the old crop of 48.5 million tonnes were down by 3.1% from a year earlier.
Export license applications for the 2022-23 crop at 11.4 million tonnes were down by 57.3% from the same time in 2022.
Export applications for the 2021-22 crop fell to 33.8 million tonnes, a drop of 14.1% from a year earlier.
Wheat sales
Farmer sales of the 2023-24 wheat crop rose by 55% to 31,000 tonnes during the week while sales of the 2022-23 crop increased by 26.6% to 176,000 tonnes.
A total of 299,200 tonnes of the 2023-24 crop has been sold so far, sharply down from 4 million tonnes a year earlier.
Sales of the 2022-23 crop of 8.9 million tonnes compares with 19.6 million tonnes a year ago.
There were no export license applications for the 2023-24 crop – in sharp contrast to 8.4 million tonnes at the same point in the previous season.
Export applications for the 2022-23 crop were at 8.8 million tonnes, down by 38.8% from a year earlier.
