Argentine farmer sales of old crop soybeans sank despite the extension of the new soy dollar scheme, while corn fell too and wheat was mixed on market-year sales in the week ending October 4, data from the country’s agriculture secretariat showed Wednesday, October 11.
Sales of the 2023-24 soybean crop fell by 24.3% to 28,000 tonnes during the week, while sales of the 2022-23 crop decreased 66% to 385,000 tonnes.
The new sales took the total amount for the 2023-24 crop, with 1.2 million tonnes sold, which is 22.6% lower than the 1.5 million tonnes reported at the same point in 2022.
Regarding the 2022-23 crop, 15.3 million tonnes has been sold to date, down 50% from the 30.7 million tonnes sold at the same time last year.
Export license applications for the 2023-24 crop reached 380,000 tonnes, while 251,000 tonnes was reported a year ago.
Applications for export of the 2022-23 crop came to 1.9 million tonnes, lower than the 5.5 million tonnes reached at the same point last year.
Corn sales
Farmer sales of the 2023-24 corn crop fell 1.2% to 160,000 tonnes, while sales of the 2022-23 crop decreased by 43.9% to 773,000 tonnes in the week.
On a cumulative basis, 3.2 million tonnes of the 2023-24 crop has been sold to date, down 37.3% from 5.2 million tonnes seen at the same point last year.
Total sales of the 2022-23 crop reached 25.6 million tonnes, which was 36.7% lower than at the same point last year.
Export license applications for the 2023-24 crop amounted to 430,000 tonnes, while 8.9 million tonnes were issued at the same point in 2022.
Export applications for the 2022-23 crop amounted to 20.7 million tonnes, a 36.3% drop from a year earlier.
Wheat sales
Farmer sales of the 2023-24 wheat crop rose by 76% to 88,000 tonnes during the week, while sales of the 2022-23 crop were down 57.7% at 82,000 tonnes.
A total of 1.7 million tonnes of the 2023-24 crop has been sold so far, down sharply from 5.3 million tonnes at the same point in 2022.
Cumulative sales of the 2022-23 crop reached 12 million tonnes compared with 22.2 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.
View our wheat prices
