The decline in wheat exports had an above-average impact on Rosario city port hub, generating a drop in shippings share.
Due to the shallowness the river, the importance of the ports in the South of Buenos Aires in connection to corn shippings rises.
The international commodity market showed increases in coarse grain values during last week. The pressure of corn harvest in Argentina keeps the local quote below the prices of Brazil and the United States.
The grain production of crop season 20/21 falls for the second year in a row, while the planted area reaches historical record. 73% of production is forecast to be exported, while the remaining would go to domestic consumption.
During the last decade, Paraguayan soybean production has increased by 42%. It is remarkable the role of Argentina as export destination, absorbing in 2020 62% of the complex’ exports.
2020/21 exported tons of wheat falls 30% year-on-year. The increase of international prices softens the fall of the export value. Next crop purchases stand firm. Fund positioning turn back to positive territory.
Between year 2003 and 2019 the “Cereal and Oilseed Crops” sector settled foreign currency for US$ 385,817 million. During the last analyzed year, this sector's share of total exports income was 46%, close to the top of the series reached in 2016.
Domestic prices of forage barley rocketed and it is paid with a premium over wheat on wholesale markets, which makes the planted area grow. The role of China and the prospects for the new crop season in our country.
Agribusiness share of total exports increases. Encouraging start for soybean grinding, but caution on the short term. Corn harvest still delayed but expected. Average cargo of ships remains falling.