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Argentina: Corn trade may break records in March

Corn contracts have exhibited dynamism in the local market since the beginning of the year, driven by export demand. The harvest is advancing in Brazil with divergent projections.

19 March 2024
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In the first two months of the year 12.6 million tons (Mt) of corn were traded. In absolute terms, this is the highest volume traded on record for this time of year.

The cumulative traded volume as of March 13 this year already exceeds all records for the entire month of March, except for 2019, and there are still sixteen days left this month.

The optimum commercial dynamism for corn is due mainly to the competitiveness of the Argentine grain in the export market compared to the offers from other competing countries.

The harvesting of the first corn crop in Brazil continues at a good pace in the southern states, the main producing regions, advancing in all cases ahead of last season at this stage.

March 15, 2024/ Rosario Stock Exchange/ Argentina.
www.bcr.com.ar

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