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Soybeans
When the week ending September 30 came to a close, the Export Increase Program (PIE) was concluded, under which 13,725,198 tons of soybeans were marketed. Quotations remained stable for Gran Rosario at ARS 63,000/t, while for Bahía Blanca and Necochea the week closed at ARS 64,000/t and ARS 65,000/t, respectively, which represented decreases of 3% and 3.7%.
Last Wednesday, the Buenos Aires Grain Exchange (BCBA) presented its first projections of sowing intentions for the 2022/23 season, estimating a crop area of 16.7 million hectares (Mh) and a production volume of 48 million tons (Mt), which is higher than the 43.3 Mt from the previous season.
Corn
During the week ending September 30, corn prices showed a positive balance. In fact, for Gran Rosario, the price increased 5.7%, going from ARS 33,405/ton to ARS 35,309/ton. For Bahía Blanca and Necochea, the price ended at ARS 38,251/ton, with an increase of 2.1% due to devaluation.
The Buenos Aires Grain Exchange (BCBA) indicated an increase of 5.8% for the sowing of the new crop over the projected total of 7.5 Mh. In this regard, corn production volume is estimated at 50 Mt for this new season.
October 3, 2022 | Economics and Market Intelligence Department 333 Latin America with data from Granar, Grain Exchange, and the Ministry of Agriculture, Livestock and Fisheries | Argentina.
https://www.granar.com.ar
https://www.bolsadecereales.com
https://www.argentina.gob.ar
