Argentina increases soybean and corn exports amid supply problems from Ukraine

Argentina sharply increased its soybean exports in September, to 870,000 tons, up from just 190,000 tons in August. At the same time, Argentine corn exports remained strong, rising to 3.7 million tons, up from 3.4 million tons a month earlier.

 

Amid limited opportunities for grain shipments from Ukrainian ports, some importers are reorienting themselves towards purchasing South American agricultural products. This supports exports from Argentina and may encourage local producers to increase their sowing areas in the new season.

 

Wheat supplies from Argentina also increased significantly in September, to 1.1 million tons compared to 700 thousand tons in August.

Exports of soybean meal amounted to 2.4 million tons, and soybean oil - 500 thousand tons, virtually unchanged from the previous month.

 

High activity at Argentine ports continues into early October. As of October 5, another 5.28 million tons of grain and oilseed products were scheduled for loading.

The largest volume in port plans was for corn — 2.07 million tons, as well as soybean meal — 1.47 million tons.

Planned shipments of soybeans amounted to about 930 thousand tons, wheat - 471 thousand tons, soybean oil - 341 thousand tons.

 

Argentina's main export hub remains San Lorenzo, where 2.81 million tons of agricultural products were declared for shipment - more than half of the total planned volume.

Another 1.11 million tons were handled by the port of Rosario, about 789 thousand tons by Bahia Blanca, and 416 thousand tons by Necochea-Keken.

 

The growth of corn, soybean, and wheat exports from Argentina is increasing competition in the global grain market, especially in the face of problems with Black Sea logistics and limited shipments from Ukraine.

 

If the high pace of Argentine exports continues and producers expand their planting areas in the new season, the increased supply of grains and oilseeds from South America could put additional pressure on world prices for corn, soybeans, and wheat.