Argentina agricultural producers have already contracted 80.6% of soybeans (almost 35.5 million tons) of the 2021/22 harvest according to the Ministry of Agriculture of the country.
From January 12 to 18 this year, farmers sold only 42 thousand tons of oilseeds, which is one of the lowest weekly performances in recent months. In this case, the total sales volume is still inferior to last year’s (82.6%).
At the end of last year, Argentine soybean sales were at an extremely high level – for a week traders could order up to 1 million tons of beans, because from November 28 to December 31, the country has been working mechanism of the preferential exchange rate (“soybean dollar”). Now it has been discontinued, which has led to a noticeable decline in the volume of soybean trade.
As for maize of 2021/22 MY, 76.3% (45 million tons) of last season’s harvest has already been traded.
Argentina is the world’s largest exporter of soybean oil and meal, as well as one of the key suppliers of soybeans to foreign markets.
Import/Export Statistics
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