The Buenos Aires Cereal Exchange reported this Thursday (07.20) that Argentina has finished the soybean harvest with a total volume of 57.7 million metric tons produced, which is the second largest volume in 17 years. The average yields, on the other hand, were the highest in history.
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All Argentinian ports, including Buenos Aires and Rosario, will not work for 48 hours, affecting grain exports, starting tonight. Unions complain that maritime safety is treated as “just another commodity”. In practice, no barge will be able to leave the country in that period. Unions seek new regulations that would assure the safety of professionals in local ports, channels, and rivers.
A new report of the Buenos Aires Cereal Exchange reveals that the harvest has reached 51 percent of the planted surface in Argentina. The estimate of total production is still maintained at 39 million metric tons. The volume already harvested is 21.6 million metric tons. The yields have been higher than previously expected, but rains recently stopped the works in the Buenos Aires province. In one week, the works advanced just 2.4 percentage points.
Data from the Buenos Aires Cereal Exchange reveals that there were some recent precipitations in the provinces of Buenos Aires, La Pampa, Córdoba, and Santa Fe, but mostly the weather has favored wheat planting during the current week with the majority of the works advancing in the most Northern parts of the country. In one week, planting progressed 11.8 percentage points to 64.8 percent of the surface of 13.5 million acres. The report also says that most of the already planted areas of the cereal have been under adequate conditions.
Argentina’s agricultural exports moved US$ 10.9 billion in the first six months of the year, according to data from the Center of Cereal Exporters. During last week alone, the sector moved US$ 308.7 million. Compared what was exported in 2016, it represents 45.6 percent of the sum of the whole year.
The Buenos Aires Cereal Exchange has issued a new report this Thursday (06.22). It says that the institution ratifies its estimate for Argentina’s soybean production in this season at 57.5 million metric tons. This happens as there are only 1.1 million acres to be harvested yet. The volume would be only below the record of last year (60.8 million metric tons), but yields would be the highest in history even with the reported floods and the highest losses in 17 years.
The planting of the wheat surface in Argentina has reached 35 percent of the projected area, according to the country’s government. In one week, there was an advance of 17 percentage points and it is 13 percentage points ahead of the average of the last four years for the period. There is an estimate that Argentinian exports would reach 11.3 million metric tons in the season.
Because of a conflict that is extended for over four days, there are over 60-grain barges stuck in the region of Rosario, the main export port of Argentina, and that can generate losses of up to US$ 25,000 per boat. Workers of the oilseed complex of Rosario demand an update of the regional minimum wage. The total loss in these four days is estimated at US$ 1.5 million. There is no sign that the strike could be lifted anytime soon.
A high probability that rains might affect the south of the Buenos Aires province region in Argentina with a few interruptions with sun and thunders, marking instability with the cold front. That is what is being told by the Rosario Board of Trade this week. The volume of raindrop would overcome 3/8 inches. For after Sunday, lower temperatures are forecast.
The volume of wheat exports in Argentina reached 8.9 million metric tons in the 2016/2017 season crop and would beat a new record, according to the Rosario Board of Trade. In the 2011/2012 season, the previous registered for the winter cereal, the sales reached a total of 13 million metric tons.
The Rosario Board of Trade forecasts that a record volume of corn would also be exported with the total of 24 million metric tons that would be sold abroad with the record reached by mid-June.
The bad news would just stay with soybeans. The oilseed has the worst sales in six years and total sales accumulated in the year is four million metric tons, which is less than wheat, and below the average of 5.85 million metric tons of the last five seasons. The reasons for the lower exports of soybeans is the local export taxes at a rate of 30 percent and also the lower price of the oilseed in the international market.