Argentina sharply boosts soybean exports while corn shipments remain high

Argentina sharply increased soybean exports in September to 870 thsd tons, up from just 190 thsd tons in August. Corn shipments also remained strong, rising to 3.7 mln tons from 3.4 mln tons a month earlier.

Wheat exports increased to 1.1 mln tons in September from 700 thsd tons in August. Soybean meal shipments totaled 2.4 mln tons, while soybean oil exports reached 500 thsd tons, remaining broadly unchanged month on month.

High activity at Argentine ports is continuing into early October. As of October 5, another 5.28 mln tons of grains and oilseed products were scheduled for loading.

Corn accounted for the largest share of scheduled cargo at 2.07 mln tons, followed by soybean meal at 1.47 mln tons. Planned soybean loadings totaled around 930 thsd tons, wheat 471 thsd tons and soybean oil 341 thsd tons.

San Lorenzo remains Argentina’s main export hub, with 2.81 mln tons of agricultural commodities scheduled for shipment, more than half of the total volume. Rosario accounted for another 1.11 mln tons, Bahia Blanca for around 789 thsd tons and Necochea-Quequén for 416 thsd tons.

Tags: corn, export, soybean, Argentina