Argentine weekly farmer sales down for soybean, corn and wheat

Data from the country’s agriculture ministry shows grain and oilseeds sales dropped in the week ending June 21

Argentine farmer sales of soybean, corn and wheat dropped for both the 2023-24 and the 2022-23 marketing years in the week ending June 21, data from the country’s agriculture ministry showed Wednesday, June 28.

Sales of the 2023-24 soybean crop fell by 20.9% to 49,000 tonnes during the week, while sales of the 2022-23 crop dropped 11.8% to 112,000 tonnes.

Total sales of the 2023-24 crop reached 298,300 tonnes, which is 47.5% lower than the 568,900 tonnes reported at the same point in 2022.

Regarding the 2022-23 crop, 10.8 million tonnes have been sold to date, down 43.4% from the 19 million tonnes sold at the same time last year.

Export license applications for the 2023-24 crop reached 92,000 tonnes, while nothing was reported a year ago.

Applications for export of the 2022-23 crop came to 1 million tonnes, higher than the 893,000 tonnes reached at the same point last year.

Corn sales

Farmer sales of the 2023-24 corn crop fell 5.5% to 85,000 tonnes during the week, while sales of the 2022-23 crop decreased 28.1% to 583,000 tonnes.

On a cumulative basis, 464,200 tonnes of the 2023-24 crop has been sold to date, down 84.5% from 3 million tonnes at the same point of last year.

Total sales of the 2022-23 crop reached 14.2 million tonnes, down by 52.9% from a year earlier.

Export license applications for the 2023-24 crop were set at 50,000 tonnes, while 4.8 million tonnes were issued at the same point in 2022.

Export applications for the 2022-23 crop amounted to 12.4 million tonnes, a drop of 53.9% from a year earlier.

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Wheat sales

Farmer sales of the 2023-24 wheat crop decreased 18.9% to 47,000 tonnes during the week while sales of the 2022-23 crop were also down 26.8% to 128,000 tonnes.

A total of 509,200 tonnes of the 2023-24 crop has been sold so far, down sharply from 4.7 million tonnes a year earlier.

Cumulative sales of the 2022-23 crop reached 9.7 million tonnes compared with 20.4 million tonnes a year ago.

There were no export license applications for the 2023-24 crop – again in sharp contrast to 8.6 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 by 38.9% from a year earlier.

For more information on the current wheat market, take a look at our dedicated page for wheat market insights.

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