Argentine weekly farmer soybean sales mixed

Argentine farmer sales of soybeans were mixed in the week ending August 23, while corn and wheat rose, data from the country’s agriculture secretariate showed Wednesday, August 30.

Sales of the 2023-24 soybean crop fell 8.1% to 45,000 tonnes during the week while sales of the 2022-23 crop increased by 109.6% to 195,000 tonnes.

That took total sales of the 2023-24 crop to 833,200 tonnes, which is 26.7% lower than the 1.1 million tonnes reported at the same point in 2022.

Regarding the 2022-23 crop, 11.9 million tonnes have been sold to date, down 47.5% from the 22.7 million tonnes sold at the same time last year.

Export license applications for the 2023-24 crop reached 216,000 tonnes, while 20,000 tonnes were reported a year ago.

Applications for export of the 2022-23 crop came to 1 million tonnes, lower than the 1.5 million tonnes reached at the same point last year.

Farmer sales of the 2023-24 corn crop surged considerably to 607,000 tonnes from the previous 131,000 tonnes, while sales of the 2022-23 crop rose 4.8% to 1 million tonnes in the week.

On a cumulative basis, 2.3 million tonnes of the 2023-24 crop has been sold to date, down 44% from 4.1 million tonnes seen at the same point last year.

Total sales of the 2022-23 crop reached 22.9 million mt, which was 39.6% lower than at the same point last year.

Export license applications for the 2023-24 crop totaled 430,000 tonnes, while 6.6 million tonnes were issued at the same point in 2022.

Export applications for the 2022-23 crop amounted to 19.2 million mt, a drop of 40.7% from a year earlier.

Farmer sales of the 2023-24 wheat crop increased 179% to 165,000 tonnes during the week, while sales of the 2022-23 crop were 77.7% up at 128,000 tonnes.

A total of 1.3 million tonnes of the 2023-24 crop has been sold so far, down sharply from 5.2 million tonnes a year earlier.

Cumulative sales of the 2022-23 crop reached 11.1 million tonnes compared with 21.7 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 by 38.9% from a year earlier.

Tags: corn, soybeans, wheat, crop, sales, Argentina