Argentina’s new-crop soybean sales remain more than 50% below last year’s level

Argentine farmers accelerated forward sales of 2026/27 crop soybeans in late October 2026, although volumes remained significantly below last year’s levels. As of October 28, farmers had contracted 1.94 mln tons of new-crop soybeans, compared with 4.14 mln tons at the same point a year earlier. The shortfall amounted to 2.2 mln tons, or 53%. Cumulative sales increased by 110 thsd tons during the week.

Sales of 2025/26 crop soybeans also continued to lag behind last year’s pace. As of October 28, Argentine producers had sold 31.36 mln tons, compared with 38.56 mln tons a year earlier, a decline of 7.2 mln tons, or nearly 19%. Cumulative sales rose by 440 thsd tons week on week, while transactions during the reporting week totaled 480 thsd tons.

Domestic prices and currency developments continued to influence trading activity. In late October, the gap between Argentina’s official and parallel peso exchange rates narrowed, with the reported differential reaching minus 12.9 as of October 28, compared with minus 26.4 a week earlier. Meanwhile, the domestic spot soybean price declined to 552,000 pesos per ton from 554,000 pesos per ton the previous week.

Export license applications for 2025/26 soybeans also remained subdued. As of October 28, applications totaled 6.02 mln tons, compared with 12.26 mln tons at the same point last year. The figure was therefore almost 50% lower year on year, reflecting a substantial slowdown in export registrations for Argentine soybeans compared with the previous season.

Tags: Argentina, soybean