In the light of high stocks and strong foreign commitments, soybean crushing recovers in 2021. Low river water level and harvest delay: less corn in the Up River Paraná Ports.

The agricultural area forecast for crop 2021/22 reaches 38.7 million hectares, 500 thousand ha over the previous crop season. If fulfilled, it would be the largest area in history, driven by the increase in international prices.

After an auspicious climatic start for wheat 2021/22, the outlook for the following months becomes somewhat uncertain. On the other hand, good harvest prices boosted trade, which hit a record for this time of the year.

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An increase in the forecast of the area destined to wheat would allow to rise the national production, reaching a record of 20.5 Mt during crop season 2021/22. On the external sector, productive and stock forecasts for the next crop have been cut.

Until May 2021, due to agribusiness exports, the exchange current account had a surplus of US$ 5,806 M, a peak since 2012. The Central Bank of the Argentine Republic (BCRA, for its Spanish acronym) increased its reserves by US$ 2,484 M.

Although prices were volatile during the last few weeks, they continue to be way above last years’ levels. Argentinian soybean meal shippings start to recover while corn harvest is coming to an end

Soybean production in Bolivia is mainly concentrated on the jurisdiction of Santa Cruz, with a forecast crop 2020/21 of 3 Mt on a national level. Exports for the soybean complex represent 11% of the total exported for 2020.

The Paraná River, main exit cargo route of agricultural products, will reach on the banks of Rosario city hub of ports its lowest level in decades. This entails logistics, transportation, and industrial costs of an estimated US$ 315 million.