Argentine weekly farmer sales for corn old and new crops decline
While soybean and wheat sales present a mixed picture, corn sales show a downward trend
Argentine farmer sales of corn are down for both the old and new crop, while soybean and wheat sales presented a mixed picture in the week ending January 11, data from the country’s Agriculture Ministry showed late Wednesday, January 18.
Farmer sales of the 2022-23 corn crop decreased by 22% to 60,000 tonnes during the week, while sales of the old 2021-22 crop dropped by 6.6% to 627,000 tonnes.
On a cumulative basis, a total of 6.9 million tonnes of the 2022-23 crop has been sold to date, down 52% from 14.4 million tonnes at the same point last year.
Meanwhile, sales of the old crop came to 44.8 million tonnes, down 5.2% from a year earlier.
Export license applications for the 2022-23 crop were at 10.2 million tonnes, down 54.2% from the same time in 2022.
Export applications for the 2021-22 crop landed at 33.3 million tonnes, 15.3% lower than a year earlier.
New crop soybean sales climbed 148% during the week to 82,000 tonnes, in an opposite path to the 2021-22 crop, which fell 65.7% to 49,000 tonnes.
That took total sales of the 2022-23 crop to 2.7 million tonnes, while at the same point last year, sales totaled 5.4 million tonnes.
Export license applications for the 2022-23 crop totaled 379,000 tonnes versus 50,000 tonnes a year ago.
Applications for the 2021-22 crop came to 5.6 million tonnes, above the 5.2 million tonnes seen at the same point last year.
Farmer sales of the 2022-23 wheat crop fell 12.4% to 113,000 tonnes during the week, with sales of the 2021-22 crop stable throughout the week at 10,000 tonnes.
A total of 6.8 million tonnes of the 2022-23 crop has been sold so far, down 51% from a year earlier, while sales of the 2021-22 crop came to 23 million tonnes compared to 17.3 million tonnes a year ago.
Export license applications for the 2022-23 crop were at 8.8 million tonnes, down 32% when compared to the same period last year.
Export applications for the 2021-22 crop were at 14.5 million tonnes, up 33.4% from a year earlier.