Argentina reduced exports of all major crops in 2023 due to drought

According to the experts of Rosario Grain Exchange, Argentina significantly reduced the exports of major crops in 2023 due to the low harvest of 2022/23 MY, which was affected by drought.

In particular, soybean exports amounted to 23.6 mln tonnes for the year, down 39% y-o-y.

Corn shipments decreased by 33% y-o-y to 24.3 mln tonnes, and wheat shipments decreased by 76% y-o-y to 3.6 mln tonnes.

As a reminder, in 2023/24 MY Rosario Grain Exchange analysts expect Argentina’s wheat harvest to reach 14.5 mln tonnes, soybeans – 50 mln tonnes, corn – 56 mln tonnes.

Tags: soybean, Argentina, corn, export