Buenos Aires Cereal Exchange keeps soybean production estimate for Argentina

This week’s report of the Buenos Aires Cereal Exchange kept the soybean production estimates at 57.5 million metric tons. Recently, the harvest has advanced to 79.6 percent of the surface planted with 4.9 percentage points of progress in one week. There is a delay of 0.6 percentage points comparing to the average of the last five season and 7.5 points comparing to 2016, when there were worse floods. Considering the current weather forecast, the harvest may complicate in the coming days.

Wheat planting starts slowly in Argentina

The wheat planting has started slower than the average of the works of the last few years due to the weather in Argentina. Rains were reported in the provinces of Buenos Aires, Córdoba, and La Pampa last week. On the other hand, early planting in some Northern provinces goes faster than the average of previous years. The overall progress reached 5.4 percent of the total surface estimated, according to the Buenos Aires Cereal Exchange. The weekly advance was 2.6 percentage points. The coming weeks would be key for the advance and quality of the crop.

After a new high on soy prices, Argentinian farmers sell 100,000 tons

After a strong devaluation of the Argentinian Peso against the U.S. Dollar (from AR$ 15.96 to AR$ 16.08), the sales of soybeans in Argentina became more attractive early this week. The price of the oilseed jumped AR$ 100 from last Friday reaching AR$ 3950 per ton in Rosario. On Monday and Tuesday, the sales overcame a volume of 120,000 tons of soybeans. In other ports, like Bahia Blanca and Necochea, the price was AR$ 3850.

Wheat sales beat new record in Argentina

A report from the Córdoba Cereal Exchange reveals that Argentina has beat a new record with nearly 12.5 million metric tons sold in the 2016/2017 season. The previous commercialization record was during the 2011/2012 season with 11.9 million metric tons of volume sold. On average, the sales are 45 percent higher than the last five years.

For the Brazilian consultant Luiz Carlos Pacheco (Trigo & Farinhas), this is explained by the great performance of the exporting sector in Argentina and this would help to sustain prices if the demand keeps strong and Argentinian wheat stays on competitive levels.

Buenos Aires Cereal Exchange maintains estimate for Argentinian soybean crop

The Buenos Aires Cereal Exchange released its report maintaining an estimate for the soybean production at 57.5 million metric tons as the harvest advanced 8.2 percentage points and reached 74.7 percent of the surface planted. The volume harvested reached, so far, 44.33 million metric tons. Some regions of the country might see a return of rains that could put at risk some of the production.

Argentina: Grain exports grow 97% in first quarter

The Buenos Aires Cereal Exchange has reported today that within the first three months of the year grain exports in Argentina have grown 97 percent in value compared to the first quarter of 2016. On the other hand, products deriving from those grains have had a decline in exports of 10.6 percent. In the case of biodiesel, there a fall of 16.8 percent, while oil exports dropped 15.3 percent.

Total sales summed US$ 326 million in the period against US$ 165 million in the first quarter of last year. The sales of derived products were US$ 2.3 billion. There was less crushing and less oil processing in the period.

Brazil’s Real drops 40 cents amid presidential bribe scandal

The Brazilian Real has dropped almost 40 cents comparing to the U.S. Dollar this Thursday (05.18). The dollar in Brazil is now worth R$ 3.38. The devaluation is after a political that involved a bribe between the country’s largest meat maker and packaging company, JBS, and the president of the nation, Michel Temer. Usually, when the Brazilian currency value drops, grain exports tend to grow.

As harvest gets to final stretch, rains in key regions of Argentina could overcome 3 inches

As the corn and soybean harvest in Argentina approaches to the end and temperatures go lower, nearly three inches of rain could drop in the Pampean region starting on Friday (05.19). Isolated and disperse rains could also happen in some Northern provinces of the country. Yet, there is a possibility of snow in the highest parts of Mendoza, San Luis, and San Juan provinces.

Private association expects that Argentina will beat 40 MMT of corn production this year

The Association of Argentinian Corn (MaizAr) has reported this week an estimate about corn production in Argentina. There is an expectation the this year’s crop could beat 40 million metric tons or 26 percent more volume than 2016. Though there is a delay in key parts of Córdoba, Santa Fe, and north of Buenos Aires, there is not any major damage reported regarding quality.

On the other hand, Maizar highlighted that the margins will shrink in the cases that there were damages because there will be more costs with an incomplete drying of the grains. Yet, there will be cost increases of 30 percent related to transport.

Brazil leads yield increase in the world, USDA says

A study authored by the United States Department of Agriculture revealed that Brazil has led the increase of agricultural yields considering a ranking of all countries in the world. From 2006 to 2010, the years that the survey accounted, agricultural productivity jumped 4.6 percent in the South American country. Brazil was followed in the list by China (3.25 percent), Chile (3.08 percent) and Japan (2.86 percent).

The greater advances in Brazil were seen in crops like rice, corn, soybeans, and wheat, but the study considers an average of all products. From 1975 to 2015, the average of productivity growth in the country was 3.58 percent on average per year.

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