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.
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.
