Argentine producers sell 76% of the 2021/22 soybean crop

Argentine producers sold 76% of the 2021/22 soybean crop, whose production was 44 million tonnes, below the level of 77.5% recorded on the same date of the previous season, the Ministry of Agriculture said yesterday (14), based on data collected up to last week.

Between the 1st and the 7th of December, producers in Argentina – the world’s largest exporter of oilseed derivatives – sold 812,100 tonnes of soybeans, the highest weekly figure recorded in recent months, thanks to exchange benefits granted by the government.

On November 27, a more profitable exchange rate differential in dollars for soy producers in Argentina took effect, which will last until the end of the year.

Regarding the 21/22 corn harvest, the country has already sold 73.1% of the 59 million tonnes harvested, according to the Ministry of Agriculture. That number is down from 75.8% the same time during the 20/21 cycle.

Corn planting for the 2022/23 cycle began in September in Argentina, the third world exporter of the cereal, although its implementation has been delayed by a prolonged drought that resulted in the smallest planted area in six years, according to the BCR.

With regard to wheat, until last week the country sold 6.2 million tonnes of the 2022/23 harvest, which represents 46% of total production.

As a result of a prolonged drought, which the National Weather Service predicts will last for a few more months, the government has estimated the 22/23 wheat harvest to be just 13.4 million tonnes.

With information from Forbes