Argentina’s grain exports to generate US$38 billion in 2021-22

Argentina’s grain exports in the 2021-22 cycle were worth US$ 38.4 billion. The figure indicates US$ 400 million more in comparison to the previous harvest cycle and marks an all-time record for the sector, according to a report released by the Rosário Stock Exchange (BCR).

Notwithstanding, the report warns that even though volumes shipped had been greater, the export prices for Argentina’s most sought-after products have slightly decreased, offsetting the rise in quantity.

Regarding the prices of such grains, projections for 2022 indicate that they will remain high in historical terms, but slightly below 2021 quotations.

Looking retrospectively at Argentina’s grain exports, only late corn would reach prices above those recorded last year, while soybeans, early corn, wheat, sunflower, and sorghum would be worth slightly less than 2021 prices.

In terms of maize, prices are expected to reach record levels at the beginning of the year only to fall below 2021 values later on. Besides, just like in the previous year, the insertion of late corn into the market would lead prices to seasonally fall between July and September.

As for soybeans, similarly to yellow beans, prices are to start at levels above those of 2021. However, as the April harvest nears in, seasonal prices would drop to inferior levels to those recorded last year and are expected to remain so.

Lastly, wheat prices should remain historically high for the most part of 2022 as the only moment higher prices were recorded was in June 2014. However, with the beginning of the 2022-23 harvest cycle, specialists expect seasonality to exert pressure on cereal prices, making them lower by November 2023 than prices in 2021.

Source: Money Times

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